Construction Contractors Access Business Credit Fast Funding Today
Types of Business Credit Available
1. **Lines of Credit**: These provide a flexible funding option, allowing contractors to draw funds as needed up to a certain limit. Interest is only paid on the amount used, making it a cost-effective solution for managing cash flow.
2. **Term Loans**: These are ideal for financing larger investments or projects, offering a lump sum of money that is repaid over a set period with fixed interest rates.
3. **Equipment Financing**: This type of credit is specifically for purchasing or leasing construction equipment. It often comes with favorable terms since the equipment itself serves as collateral.