Speedy Business Funding has launched a credit line service for construction companies seeking to raise funds.
-- Following the announcement, business owners in the construction industry, including home remodeling companies who have failed to secure credit from traditional banks, can use the company's Speedy Contractor Funding service for credit lines of up to $20 million.
More details can be found at https://contractorloc.com/
The service will help bonded contractors and subcontractors bid for larger jobs without having to use their bonded capital capacity. Speedy Business Funding's letter-of-credit (LOC) model helps clients cover everything from labor and payroll costs to insurance, permits, and bonding-related expenses.
A spokesperson says, “The program was built to work with your bonding, not against it. Instead of juggling credit lines, chasing supplier terms, or delaying your start date, you’ll get everything you need—mobilization funds and materials—through one trusted partner. You focus on building. We’ll take care of the rest.”
According to data from the Construction Industry Institute, almost 60% of US construction firms regularly face cash flow problems, resulting in project delays, missed payments, and sometimes business closures. Even projects that appear profitable on paper can fail due to a lack of capital when it is most needed.
The company's LOC funding is suitable for construction contractors and subcontractors who have at least $500,000 in annual revenue. The funds can be used for Federal, State, Municipal, or private commercial projects.
The company facilitates the financing and delivery of a wide variety of building materials, including steel, concrete, lumber, electrical components, mechanical parts, and plumbing supplies. Clients can also request specialist and custom items depending on the demands of their projects.
In addition, Speedy Business Funding offers flexible terms tailored to a client's contract billing cycle and draw schedule. This helps ease the commonly tight financial margins that contractors operate under whereby even small delays can have serious consequences for project completion and ongoing operations.
The company invites new clients to schedule a consultation with the team to discuss how the LOC services could benefit their businesses.
Clients who are ready to proceed can complete an initial application form via the Speedy Business website and upload their business and personal tax returns, accounts receivable and payable, personal ID, and insurance details to progress their credit request.
For more information visit https://contractorloc.com/
Contact Info:
Name: Scott Clymo
Email: Send Email
Organization: Speedy Business Funding
Address: 65 East Nasa Boulevard, Melbourne, Florida 32901, United States
Phone: +1-888-318-2986
Website: https://www.speedyhg.com
Source: PressCable
Release ID: 89161036
In the event of detecting errors, concerns, or irregularities in the content shared in this press release that require attention or if there is a need for a press release takedown, we kindly request that you inform us promptly by contacting error@releasecontact.com (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will promptly address your feedback within 8 hours and take necessary actions to resolve any identified issues diligently or guide you through the removal process. Providing accurate and dependable information is our utmost priority.
