Remove Banking Remove Cash Flow Remove Equipment Remove Lien
article thumbnail

How to Avoid Running Out of Cash on a Construction Project

Levelset

Contractors can take on more work than their cash flow will let them perform, leaving them scrambling for cash to pay their bills or their employees. Ensuring consistent cash flow throughout a project is the key to scaling your contracting business. Why contractors run out of cash. But what about cash flow?

article thumbnail

4 Factors Underwriters Consider When Issuing a Construction Bond

Levelset

Contractors need to be able to show the surety that they can perform the work on the project , including the ability to track job costs on a daily or weekly basis and having the right equipment and personnel to handle the various tasks. Sureties calculate working capital more conservatively than other credit providers or banks.

Risk 52
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Contractor's Secretary Does Everything Including Bookkeeping!

Contractor Bookkeeping

Sending the Notice to Owner of Intent To Lien to protect my financial interests. Enter purchases of material, supplies, equipment rental, tools and other items. Enter banking transactions including EFT, ACH, NSF, checks, debits and automatic payments. Enter banking transfers between checking and savings accounts.

article thumbnail

Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Go To Your Bank - And they offer you a line of credit. Bank Accounts - Set up two bank accounts in your company name. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. It is a must have to borrow money from a bank.

article thumbnail

Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

Go to your bank and ask to speak with the commercial banker. Every bank has one and they can be one of your most powerful allies and mentors. The really good news they are on the banks payroll. How can you and the bank help me run my business more profitably? You could get THE CALL.

article thumbnail

New Contractor Business Start Up

Contractor Bookkeeping

Go To Your Bank - And they offer you a line of credit. Bank Accounts - Set up two bank accounts in your company name. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. It is a must have to borrow money from a bank.

article thumbnail

We Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Did You Go To Your Bank - And they offered to give you a line of credit. Bank Accounts - Set up two bank accounts in your company name. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. This is getting very stressful.