Levelset
SEPTEMBER 30, 2022
As a commercial specialty contractor, it can be frustrating to have the crew, time, and skills you need to take on construction projects but not enough cash to purchase materials. Add in being denied a bank loan, and the frustrations mount. And when they are approved, they often don’t get the amount of funding they need.
Levelset
FEBRUARY 3, 2023
Managing cash flow in the construction industry is difficult in any economy, but during a recession, specialty contractors face even more financial challenges than usual. One of the most significant challenges during that time was the lack of financing for commercial construction companies. There’s plenty of work to go around!
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Levelset
JULY 25, 2022
Debt capital is funding that a construction business acquires by borrowing, typically from banks or other lending institutions. By taking on debt, construction companies can defer payment on large purchases and use cash reserves for more immediate costs, like employee payroll or purchasing materials for a new job. . Debt capital.
Levelset
AUGUST 5, 2022
Pay close attention to cash flow. Architects live or die by their ability to manage cash flow — it’s the primary reason why businesses in the construction industry fail. Architectural firms need to monitor the cash coming in and going out of the business to ensure they have enough on hand to cover critical expenses.
Constructonomics
AUGUST 23, 2016
It’s also moved into that fancy commercial property in Mayfair , but money is still in short supply and it’s vital to conserve resources. Management becomes more formal and accounting needs to be stronger; money comes more from profits, banks and franchising options than from family. The start-up stage. The established stage.
Levelset
FEBRUARY 18, 2022
Minnesota breaks its prevailing wage rates into two categories: highway/heavy construction and commercial construction. Commercial construction includes building projects exclusive of residential construction. Here are some rates for commercial construction in St. Equipment Operator Group 4 $40.04 $22.55 $ 62.59
Levelset
JUNE 6, 2022
Retention can be withheld on residential or commercial projects and on both public and private projects. When the $90,000 is paid, it is posted with a debit to the bank or cash account and a credit to accounts receivable, clearing the account for that project. Debit Credit Bank or cash $90,000 Retention receivable $90,000.
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