The costs of running a construction company can be substantial. Maintaining and replacing equipment, buying materials, and making payroll are all recurring expenses that require constant and reliable cash flow. With contractor loans and construction business loans, your business can operate at full strength. Alternately, a business line of credit can be exactly what your firm needs to overcome seasonality and smooth out the capital requirements of large expenditures.
How Construction Business Loans Can Help Your Business
It can take time to get paid for work completed. Construction business loans can help cover any payment delays.
Don’t let working capital constraints keep you from growth. Borrowing money lets you start new projects, even as you’re waiting to get paid for your last projects.
Purchase equipment outright, rather than using subcontractors or third parties. Using your own equipment can save you money in the long run.
Hire More Crew
Ramping up your workforce is important when you're expecting more jobs, but all the new workers cost money. Get the funds you need until the new work starts paying.
Where Can I Get Funding for Construction Companies?
Construction companies have a wide range of options when it comes to seeking small business loans. Possibilities include bank loans, Small Business Administration (SBA) loans, business credit cards and alternative business loans. Today, more and more companies are considering alternative business loans for their ease and flexibility.
Often offered online, alternative business funding can be a good source of contractor loans and construction business loans. These loans get owners and contractors access to capital without the onerous, time-consuming process of a traditional bank loan. Easy applications and sophisticated underwriting models allow applicants to quickly find out if they qualify and to secure funds, even with less-than-perfect credi.
Apply for a Headway Capital Business Line of Credit
Headway Capital offers a True Line of Credit™ with no hidden fees for construction companies and contractors. A construction business line of credit can help you meet your business needs, including hiring, training, marketing, purchasing equipment and taking care of day-to-day expenses.
12, 18 or 24 months
Weekly or monthly
Business line of credit
No Hidden Fees
See our Rates & Terms for details
Clear payment terms, interest does not compound, no penalty for early payoff
Why Choose Headway Capital?
We See the Big Picture
We look beyond your credit score in evaluating your business.
Borrow what you need, when you need it, and pay it back according to your own schedule.
Make multiple draws (up to your credit limit) and only pay interest on what you borrow each time.
Upfront rates and no hidden fees mean you’ll always know what you’ll owe.
FAQ About Contractor Loans and Construction Business Loans
How do you finance a construction project?
Construction projects are often financed with construction loans. These loans are often provided by local credit unions or banks, but not all businesses will qualify for those types of loans. For those businesses, an alternative lender may be a good fit.
How can I get a contractor’s loan?
What does a construction loan pay for?
1We always do a soft inquiry unless your credit file is restricted, in which case we would ask you to contact the credit bureau to lift the restriction. Doing so may result in a hard pull.