When it comes to working capital for the construction businesses, loans usually don't cut it because of the way the debt product is structured. With a Term Loan, the money only gets used once and once funds are depleted, there is no more availability to access funds. Whereas with a line of credit, money can be constantly drawn and repaid as receivables come in and expenses are paid out.

To be approved for a Line of Credit the Business must meet these minimum requirements:

Time in Business: 3+ years

Owner FICO: 650+

Annual Gross Revenue: $500,000+

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Approvals for a line of credit for the Construction Industry generally are calculated at 15% to 20% of the Annual Gross Revenue. For example if your Construction Business generates $1,000,000 in Total Gross Revenue Annually, an expected approval of $150,000 to $200,000 could be expected.

To explore how much your business could qualify for please Book a Call with our Team or Start the Application Here.

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