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Restoration: How to Manage Cash Flow While Waiting for an Insurance Check

Levelset

To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Poor cash flow management is the number one reason why construction businesses fail. Plan out your cash flow.

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5 Ways to Improve Cash Flow in Your Construction Business

Levelset

From buying materials to hiring crews, business begins when cash flows. If you’re a specialty contractor who needs cash flow solutions, you’re not alone. In this article, you’ll discover five tips to improve your cash flow so that you can grow your business and increase financial flexibility.

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Proactive Contractors Use Lien Services To Protect Cash Flow

Contractor Bookkeeping

As much as we plan, it would be best if you were flexible, adaptable, and reliant. Proactive is scheduling and doing everything ahead of time. Nothing is ever waiting until the last minute. Reactive is more emergency driven and are things that need to be done now. Things happen that are beyond your immediate control.

Cash Flow 101
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What is Retainage in Construction?

Lets Build

Almost every construction professional faces the same problem – cash flow. Large upfront costs and long waiting periods between payments are a normal occurrence; retainage adds to this cash flow problem for contractors and project managers. Retainage and mechanic’s liens.

Cash Flow 147
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7 Things Contractors Need to Know About Retainage

Fieldwire

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. Retainage can cause a cash flow burden for contractors, especially subs at the bottom of the payment chain.

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How to Avoid Running Out of Cash on a Construction Project

Levelset

Bigger projects require more materials and more labor, which means higher cash requirements. 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. But what about cash flow? Poor planning. Stuff happens.

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How a Construction-to-Permanent Loan Impacts Contractors & Lenders

Levelset

These risks should be a non-issue when contractors have a comprehensive risk management plan in place. To identify areas where systems might be strengthened for prompt invoicing and increased cash flow , think about talking with an outsourced CFO. Failing to protect lien rights. Information about judgments and liens (i.e.,