General Contractor Loans

General contractors, whether a residential or commercial, have many expenses associated with the day to day operations of the business. There is always a need to lay out money for materials, equipment, and labor. General contractors are not only responsible for paying their full-time employees, but they are also responsible for paying subcontractors. A GC is usually paid directly from their client and once they are paid, it’s time to make payroll. General contractor loan programs can help pay vendors, make payroll, and pay subcontractors.

Many contractors turn to general contractor loans to help support the ongoing cashflow needs. General contractor loans can be very beneficial if used at the right time and in the right way. A combination of different general contractor loans can result in stronger operating cashflow, new projects, and continued growth. Some of the ways to use a general contractor loan are below.

• • • Purchasing new equipment
    • General working capital
    • Purchasing new tools
    • New project bids
    • Mobilization funding
    • Material expenses
    • Payroll
    • Hiring new employees
    • Advertising and marketing
    • Refinancing debt
    • Purchasing new tools