The bids and jobs are rolling in, and your schedule is lined up with new jobs for the foreseeable future. It’s a great problem to have. However, taking on all of that new business can require a business owner to have more capital up front. Easier said than done, right? The thought of fronting that kind of money to launch a project can send even the most seasoned contractor searching for cash flow options. There are challenges that can make financing for general contractors frustrating, but that’s where HFS Financial can substantially help you and your customers.
Obtaining Funds Required to Complete Jobs
It sounds so easy. Consult with a new client, quote them a price, they pay you, and you’re off to the job site with funding in hand. If only it worked that way for everyone. The reality of it is that many times a contractor is waiting on funding. When funding takes a while to come through, it can force you to front the money yourself. Waiting on payment can put a pinch on your company’s finances. The more jobs you take on, the more cash you’ll need at the outset.
You can always ask your customers for a down payment in order to get the project going. However, if your customers are like most people, they don’t have that much cash available to pay up front. One obvious solution for them is to obtain financing. Thankfully, you’re a one-stop shop and know exactly where to send them for financial assistance.
Send them right to your website to connect them with HFS Financial. We have a handy widget for you, so that every customer who needs financing can apply through HFS Financial right through your own business. With decades of experience in the lending industry, we can connect them with the right loan. They’ll find the loan option to meet their needs, and you won’t have to wait for that never-ending bank approval. With HFS Financial, approval and funding are relatively fast — getting your customer money in hand upfront to pay you for the job.
Complications in Financing for General Contractors
Landing those large projects is what every contractor loves to see. In order to get started, contractors often have to purchase materials, rent or buy new equipment, and pay for labor costs ahead of time. And when your customer is having trouble finding financing for the job, that spells trouble for you.
Small businesses are up against strict qualifying factors which can make it more challenging to obtain funds. Rather than your business taking on the hassle of additional loans, your company can connect customers with better options through HFS Financial. It’s a huge win — both for your customers and for you! Your customers will be happy to learn about financing options available to them that don’t have to do with a line of credit or second mortgage. And from your company’s point of view, this frees you from having to front the financing to customers, leaving more capital for you to work with.
Why Financing for General Contractors from HFS Financial?
HFS Financial offers non-staged funding for homeowners, allowing them to pay you according to your payment schedule. As an added bonus, you’ll avoid staggered payments coming in as various stages of the project are completed and you’ll never have to worry about inspections and approvals needed to release additional funds.
You know your customers’ needs better than anyone. Make sure you’re working with a company like HFS Financial who can meet their unique financing needs. With over 55 years of experience in the home improvement financing business, HFS Financial will take the frustration and guesswork out of financing for general contractors. Call HFS Financial today at 1-800-254-9560. “You Dream It, We Finance It.”