article thumbnail

#130:  Secured Lenders' Rights to Construction Contract Payments

NH Construction Law

It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. No one thinks to ask whether the contractor has pledged its receivables to secure a loan or line of credit.

article thumbnail

SoftBank-Backed Construction Technology Startup Katerra Set to Close

Pro Builder

It laid off hundreds of employees last year and neared bankruptcy. The company also faced an investigation into its accounting practices by the Securities and Exchange Commission and by its board of directors, according to The Information.

professionals

Sign Up for our Newsletter

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

article thumbnail

How the Recovery May Further Expose America’s Wealth Gap

Pro Builder

The housing market is rebounding with unexpected strength, but as stimulus support measures come to an end, securing housing will be one more arena where America’s wealth gap will rear its head, according to Forbes.

article thumbnail

Does a Lien Affect Your Credit Score?

Levelset

Credit bureaus can collect public information from state and county courts, including bankruptcies. Because the lien is connected to the contractor, it can affect their ability to secure credit with vendors or financial institutions. This means a lien could potentially affect your ability to secure financing for years to come.

Lien 96
article thumbnail

Chinese Military Hackers Charged with Disrupting U.S. Solar Market

Green Building Law Update

” I had written in a blog post last October, Bankruptcy Trustee Sues Chinese Over Solar Panel Dumping , about a case filed in the U.S. With our unique criminal and national security authorities, we will continue to use all legal tools at our disposal to counter cyber espionage from all sources.”

Cash Flow 120
article thumbnail

What Your Business Credit Report Tells Lenders

Pro Builder

See how a solid business credit score increases your chances of securing capital to fund the growth of your business, and what you can do to improve your score. Having a solid business credit score increases a business owner’s chances of securing capital to fund growth. Wed, 10/12/2022 - 06:00. Matthew Gillman.

Debt 52
article thumbnail

Transforming Construction Payments: Autodesk's Strategic Move with Payapps Acquisition 

Autodesk Construction Cloud

Late payments and non-payments are, unfortunately, pivotal contributors to declining contractor productivity eventually, in some cases, leading to bankruptcy for many GCs and subcontractors. Industry research supports these sentiments. Moreover, manual payment processes also increase compliance risk.