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Construction Company Recovery After A Financial Setback

Contractor Bookkeeping

You started your construction business with plans of earning a living and being successful, but an unfortunate fact of business life is that companies suffer financial hardships. Your finances are negatively affected, and it's up to you to lead the recovery.

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McDermott board brings on bankruptcy experts

Construction Dive

The move comes ahead of a deadline to receive a rescue financing package and follows the resignation of the company's Chief Financial Officer.

professionals

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Unique Construction Company Financing Secrets Revealed

Contractor Bookkeeping

2 The financials tell the banker your bookkeeper doesn''t understand Construction Accounting. #3 4 You have no access to a construction accountant, not even for quarterly check-ups. #5 The Construction Specifications Institute (CSI). It is common sense to anyone in construction. A Bit Of History Helps With Understanding.

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Hiring The Wrong Construction Bookkeeper Costs You Three Times More Than Their Annual Salary

Contractor Bookkeeping

An alarming number of construction company owners are being ripped-off and driven into bankruptcy. Perhaps more. That sounds harsh, but it's true. Whenever we see a contractor heading towards a problem, an issue, or a big disaster, we immediately raise the alarm.

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How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

The problem is high profit jobs have a way of turning into low or no profit jobs and in some cases they can bankrupt your construction company because you bid the project using whatever model you are accustomed to using and in the end you wind up with cash flow problems. Every problem has one answer "Brute Force". 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. Credit bureaus can collect public information from state and county courts, including bankruptcies. What is a lien? Does a lien affect credit scores?

Lien 96
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Guest Blog – 5 Common Misconceptions About Surety Bonds

Construction Law Monitor

Getting construction bonds is not as scary and difficult as some think. If you are a contractor working on public projects, you’ve most likely heard a lot of myths about construction bonds. Myth #1: Construction Bonds Are Very Costly. Myth #2: No Surety Bonds Are Needed by Large Construction Companies.