Construction contracting has huge income potential. Government infrastructure projects are most lucrative especially when the contractor lands many projects. Getting those projects off the ground, however, is a different story. That is because, like all businesses, construction contractors take a huge risk by funding their projects using cash from their reserves.
Financing is the key. Taking out construction loans for business keeps the cash within the company as well as preserves cash flow by stretching out payment terms. The construction financing industry also happens to be very diverse in its offerings.
Contractors can take out any of these 7 types of financing to fund their new projects and keep up with contractual obligations.Continue reading “7 Ways to Finance Construction Projects!”