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Why Banks Won't Lend Money To Your Construction Business

Contractor Bookkeeping

Think of all the times: You loaned money to a friend or relative Provided labor and materials for somebody's home or business without a deposit check Did change order work that you never got paid for doing and never will Gave a subcontractor/employee an advance on their paycheck, and you never got paid back Multiply that by 100,000, and you will understand (..)

Banking 108
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Mortgage Banks Reported Negative Profits for the First Time Ever in 2022

Pro Builder

Negative profits in 2022 are likely a result of slower housing activity caused by higher financing costs coupled with elevated home prices, leading to lower purchase and refinance volume. Read more Financing Affordability Market Data + Trends Financing

Banking 52
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How to Increase Cash Flow for Your Construction Business When You Can’t Get the Financing You Need From the Bank

Levelset

Add in being denied a bank loan, and the frustrations mount. With your back against the wall, dipping into your personal bank account may feel like an easy solution. In this article, we’ll share five ways you can increase your cash flow when the bank denies you access to the money you need to start or grow your construction company.

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Will Banking Sector Uncertainty Cause a Slowdown in New Construction?

Pro Builder

Will Banking Sector Uncertainty Cause a Slowdown in New Construction? While elevated interest rates have made construction less profitable since the final quarter of 2022, recent banking turmoil is increasing headwinds for residential developers. Increased financing costs remain a concern around construction.”

Banking 52
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Tanzania Hydropower Project Secures Financing

ENR Construction

MW Kakono hydropower plant in Tanzania has secured $300 million in financing from the French Development Agency and the African Development Bank, paving the way for the engineering, procurement, and construction phase to begin. The effort to build the 87.8-MW

Finance 56
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Wells Fargo CFO calls commercial real estate a ‘long movie’

Construction Dive

The office market is under the most pressure, the bank’s finance chief Michael Santomassimo said on Monday.

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Navigating Commercial Building Loan Landscape for Small Business

Wolgast Corporation

We checked in with Steve Canole, Senior Vice President of 1 st State Bank, to find out the current commercial financing climate and if there are any changes, insight, or guidance our business owner clients should know to secure financing to fuel their growth. Over the last 18 months, lending is back to financing 75% or lower.