Revenue-Based Financing For Construction Businesses
Mantis Funding understands the unique constraints construction companies undergo. Don’t let a lack of financing halt your construction company’s growth. Instead, partner with one of the leading revenue-based financing providers so you can breathe a sigh of relief and have access to the necessary funds that help to keep your business functioning.
What You Need To Know About Funding Your Construction Business
The construction industry is no stranger to difficult roadblocks. Weather, seasonal demand, and supply chain disruptions can unexpectedly drag out jobs and lead to financial uncertainty. Issues like a lack of qualified workers, training expenses, and high employee turnover can result in significant cash flow problems. Ensuring payroll and equipment expenses are covered is vital to the success of your business.
Whether you pour concrete or build high-rises, construction business financing provides you with working capital upfront so you can sustain and grow your business over time. It may take months to secure financing through traditional lenders like banks, and they may have a long list of eligibility requirements. At Mantis Funding, we understand the confines of the construction industry and know financing can’t wait.
How Construction Business Financing Can Help Your Business
As the construction industry in the United States is projected to reach an estimated $1,355,097 million in 2022, companies are in need of funding to continue to support their employees and ongoing operational costs. Construction companies can benefit from financing in a variety of ways, including:
- Invest in new technologies
- Cover payroll expenses
- Overcome cash flow issues in slow seasons
- Hire new employees
- Market your company
Frequently Asked Questions About Financing a Construction Business
Finding funding to expand your construction business might seem like a daunting task. Mantis Funding is here to answer all your questions and provide you with hand-tailored revenue-based financing solutions.
What is construction business financing?
Revenue-based financing is the purchase and sale of a business’s future revenue and offers more flexibility than traditional lenders. Funding can be put toward any area of your construction business like training new staff or purchasing new equipment. Cash is provided to you upfront so you can cover any expenses and get back to focusing on your customers and the construction job at hand.
How does construction revenue-based financing work?
Revenue-based financing is an agreement that exchanges working capital (cash) for a set amount of your business’s future revenue streams. This is especially helpful for those in the construction industry, who may not get paid in full until months later. Business owners are not required to give up any equity or control, and you can spend this financing on any part of your business. Repayment is made on a daily or weekly basis until the total amount is recouped within a specified repayment term.
While traditional lenders may have longer repayment terms with lower interest rates, revenue-based financing takes on a higher amount of risk, as it does not need construction business owners to have high credit score requirements to qualify for financing. Funding typically requires higher repayment amounts within a shorter repayment term.
How to qualify for construction business financing?
At Mantis Funding, we make it easy to apply. Our eligibility requirements are simple:
- Your business has been operational in the U.S. for at least 6 months.
- You own at least 50% or more of the business.
- You can pass a minimal credit score check — low credit scores are ok!
If you meet these basic requirements, then we invite you to fill out an application for funding so our representatives can get started on the approval process.
Why choose Mantis Funding for construction business funding?
Typical small business loans have strict eligibility requirements and slow processing times. At Mantis Funding, we understand that costs like payroll and repair expenses can’t wait, which is why we get funding to your bank account within one business day once your financing agreement is signed. We also provide flexible repayment structures that suit your company’s business model — not the other way around.
What’s the difference between loans and revenue-based financing?
Revenue-based financing is an alternative form of financing that exchanges working capital for a set amount of the business’s future revenue streams. Various sectors like the trucking, construction, and automotive industries can all benefit from revenue-based financing when they need to grow their business in a short amount of time — all with fewer regulations than are commonly associated with traditional lenders. Companies don’t have to give up any equity either, as is typical with venture fundraising.
The amount of financing that a business qualifies for will ultimately be based on the total monthly revenue that it generates. Repayment structures are either daily or weekly, and they are directly debited from the business’ bank account.
View our “How it Works” page to learn about the three main differences between a traditional business loan and revenue-based financing.
Other Industries We Service
We service a wide variety of industries, including retail, medical, and liquor stores, as well as select franchises. Industries range from trucking businesses to nightclubs. We also service other industries that are not included on this list and invite you to fill out an application for funding so our representatives can reach out to you. We understand the unique challenges facing different industries and the peace of mind that funding provides. We will be able to assist you every step of the way.
Get in Touch
Want to learn more about our application process or still have other questions?
Our qualified representatives are standing by to lend a hand.