Construction and Contractor Business Loans.
Ready to Apply? Fill Out Your Information Below.
Construction Company Financing by United Business Funding
Construction finance has been tough to come by in recent years. Many of the big lenders have been hesitant to fund individual or small-scale projects, choosing only to support big corporate developers in their efforts. However, we’re more optimistic about the future of construction and are already seeing strong signs of growth in this resilient sector. So if you’re looking for construction finance or just wanting to learn more about your options, then here’s a short overview of how it all works.
A Booming Construction Industry
Construction spending in the U.S. is approximately $943 billion per year. The industry has a significant impact on the general economy but is also vulnerable to broader economic disruptions. Despite some tough times in recent years, things are looking up. Some segments of our economy are doing better than others, and even among varied growth segments, some sectors are growing more quickly than others. However, the overall financial picture for the construction industry is viewed as optimistic.
Alongside the U.S. economy as a whole, construction is showing several strong signs of rebounding and strong future growth.
What Can Construction Financing Be Used For?
Purchasing new or used construction equipment and materials
Expanding or upgrading your company’s facilities
Hiring new employees; training and education
Overcoming unanticipated business expenses
Managing cash flow
How Does Construction Financing Work?
Construction finance is usually a short-term arrangement (up to a year) and is based on variable interest rates that adjust in line with the prime rate. It’s typical for borrowers to be put on bank-drafts once approved and only required to make interest payments during the initial construction period.
Once the project is completed, the finance solution can then be rolled over into a mortgage or repaid upon sale of the property. It’s essentially a two-step process involving a temporary initial loan that allows the project to commence, followed by refinancing into a regular mortgage (or repayment).
Here’s what to expect from United Business Construction Financing:
Streamlined underwriting and approval that won’t keep you waiting for weeks or months
Funds in your account in as little as 3 days after approval
Repayment terms that are structured to your business model and cash flow
Capital that can be used, at your discretion, for any business expense
Poor credit is not a disqualifier
Learn More About Our Construction Finance Options
Construction financing from United Business Funding can give you the business capital you need, for today and tomorrow. Our tailor-made packages are the ideal solution for busy operations managers or home-builders. We’ll take care of all aspects of finance, so you can focus on the construction project at hand. From interior décor to project management, you’ll be able to concentrate on the elements of construction that matter to you most.
Our hassle-free application process is fast and simple, with unrivalled support the whole way. Learn what many construction companies across the country already know: UBF business loans and merchant cash advances are valuable tools of the trade.
CLICK HERE to complete an application online.