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How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

The remodel contractor uses a form of "Cost Plus" or "Not To Exceed" to provide the homeowner with scope of work and a contract price the bank needs in order to finance the construction. Then it will take a while for the bank inspector to review the project and approve the draw. The Solution.

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Does a Lien Affect Your Credit Score?

Levelset

Contractors and other businesses in the construction industry can file a mechanics lien if they aren’t paid for their work – even if they weren’t hired directly by the property owner. In contrast, a mortgage is a voluntary lien , because you sign papers giving the bank a lien on your property until you pay off the balance and interest.

Lien 96
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Turbocharging Motown’s Recovery

Buisness Facilities Contributed Content

We took some ribbing last summer when we put up a post in this space entitled “ The Road to Recovery in Detroit ,” predicting that the Motor City would quickly rebound from its financial woes and become a magnet for new industries. The bank will direct half of the $100 million in loans and grants to community projects.

Detroit 49
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What Your Business Credit Report Tells Lenders

Pro Builder

Your industry type is also often a factor in your business credit rating, too. Your business credit report also provides necessary information about your company, such as your business background, ownership and subsidiaries, financial information, any bankruptcies, risk scores, and banking, trade, and collection history.

Debt 52
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Have we reached the point when the AEC industry starts redesigning fast-food menu items?

PSMJ Resources

As anyone who practices in the AEC industry, or follows this space, will tell you, things have been bleak since fall 2007. The sector index is as follows: Multi-famliy residential (50.1), commercial/industrial (44.9), institutional (43.1), and mixed practice (40.3). Regionally, the ABI breaks down as follows: Midwest 48.0,

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Unique Construction Company Financing Secrets Revealed

Contractor Bookkeeping

You Want Money; Banks Want To Lend Money, What''s The Problem? Multiply That By 100,000 And You Will Begin To Understand Why Banks Seem So Tight Fisted About Loaning Money. Banks stay in business is by loaning money and earning interest. Finally a Z-Score is compiled which is a formula for predicting bankruptcy.

Finance 48
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Completed Operations: A Contractor’s Guide to Coverage, Cost, & More

Levelset

A couple of years after the construction of an industrial manufacturing plant, an electrical fire destroys the plant and the equipment inside. Completed operations will pay for repairing the damages to the floor and any other work below the slab. The plumbing contractor is responsible for repairing the pipe and fittings that failed.