Construction is historically an invoice-based industry. You get paid when work is completed, and only after the invoice is submitted along with other documentation and approved by multiple project stakeholders. This payment process can take weeks or months, creating serious cash flow and working capital challenges for contractors who are waiting to get paid for work […]
Category: Lending
Planning can help your nonprofit minimize negative effects
Months after the Tax Cuts and Jobs Act (TCJA) was signed into law, nonprofits are still trying to assess its consequences. Some of the early proposals that raised alarms in the charitable sector — such as a repeal of the Johnson amendment — didn’t make it into the final version of the law. But there’s […]
What Your Lender Really Wants to Hear
What does every contractor’s lender want to hear? Why, “The check is in the mail!” of course. But, seriously, lenders — much like sureties — expect construction companies to operate in a manner that assures both timely payments and the feasibility of future loans. Here are a few choice quotes to lay on your lender […]