A business line of credit is a very convenient way to fund your construction company. Like a credit card, a business line of credit is a predetermined pool of capital that a business can tap for whatever it needs. It's incredibly flexible—you can use the funds for practically any business need. Plus, you never have to reapply.
You use your credit, pay interest on the amount you borrow, repay the borrowed amount, then get instant access to the credit again.
Every small business can benefit from a line of credit, especially construction companies.

When someone says "equipment financing, " most people in the construction industry think of brand-new tractors, forklifts, backhoes, and all those huge machines we all see in the construction yards. But behind the curtain lies a variety of non-heavy-duty equipment you can finance, too! From computing power, software, furniture, vehicles, vacuums, and coffee machines - everything you can think of is financeable!
To qualify, you'll typically need to be in business for at least 12 months, have a credit score of 650 or more, and make at least $50,000 in AR. But the exact qualifications vary by lender and equipment.
The good thing is that you don't need a large down payment or collateral to start your construction loan equipment financing. In many cases, the equipment you're trying to acquire can also act as collateral, which means it won't affect your bank account as much as you thought.

This is a convenient option for covering your unexpected costs too, with terms from 6-24 months, and it's easy to qualify for, too - you'll need a solid credit score, 2+ years in business, and maybe a little collateral. You get access to funds in as fast as 24-48 hours.
With a short-term construction loan, you receive the full lump sum of money upfront and pay it back over a predetermined period. This loan works best for long-term investments that'll take several years to pay off. A short-term loan helps free up your business line of credit, so you always have access to flexible credit in an emergency.