Billd

Subcontracting executives and CFOs—this one's for you 🏗️ With cash flow challenges affecting 46% of subcontractors last year, it’s time to think strategically about how you're financing projects and protecting your business's profits. Introducing "Building a Working Capital Toolkit," our latest guide designed to help you master the art of managing and optimizing your working capital. Inside the whitepaper, you'll discover:  ✔️ A playbook to maximize your working capital options and protect your cash flow ✔️ Calculations to determine the amount of working capital your business needs  ✔️ Strategies for deploying your capital ✔️ Proven payment collection strategies Don't let cash flow disruptions slow you down. Get proactive, and start making working capital work for you. Download your free copy today at the link in the comments.

🚨 Don't miss our final Subcontractor Meetup of the year! 🚨 Join us Tuesday, November 19, as Josh Luebker, construction consultant and fractional CFO, walks you through how to account for the cost of capital and include it in your bids. Subcontractors who account for the cost of capital are 11% more profitable than ones who don't according to the 2024 National Subcontractor Market Report. Join this virtual session to discover tactical ways to protect your profits, including how to: - Create a process for determining your monthly cost of capital  - Calculate the cost of capital on your next project so you can include it in your bid  - Determine which working capital options work best for your business Space is limited so register now to save your spot! 

We're proud to announce today that Billd has secured $17.5M in strategic funding in our latest investment round. This investment helps accelerate our mission, further solidifying our role as an indispensable partner to subcontractors and empowering us to continue driving innovation in construction finance. The round was led by LL Funds and MissionOG, with RJT Credit, Ulysses Management, and HighSage Ventures also participating. This marks the first investment from MissionOG, a growth equity firm with deep expertise in fintech and lending, and HighSage Ventures. Together, these companies are dedicated to our mission to expand financial solutions to meet the ever-growing demands of the construction industry. “This investment represents a significant milestone for Billd,” said Billd CEO Christopher Doyle. “Our investors understand the complexities our customers face and share our commitment to empowering subcontractors. By working together, we are in a stronger position to accelerate our growth, expand our reach, and innovate at a pace that meets the evolving needs of our customers.” Learn more about this strategic investment round at the link in the comments section.

Sick of waiting on payments while your cash flow takes a hit? You’re not alone. For subcontractors, steady cash flow can mean the difference between scaling and barely surviving. Yet, your Days Sales Outstanding (DSO) is often out of your control, leaving you at the mercy of payment delays. Monitoring your DSO across projects and GCs can be helpful when determining whether to bid on new projects. But how will that information help you if you're already on a project and hitting payment delays? It isn't enough to know your average DSO; you need an action plan for what to do when DSO get strained. Without one, you could find yourself in a serious cash crunch while waiting on your GC to cut a check. But you don't have to figure this out on your own. We've created a blueprint you can use when DSO get strained that helps you get cash back into your business quickly. By following these steps, you can:  -Proactively monitor your AR to identify delayed payments—before they become a problem -Create a more consistent cash flow for your business -Forecast more accurately  Visit the link in the comments to get the step-by-step action plan you can take to help stabilize your cash flow. 

🚨 Unlock your working capital potential 🚨 Whether you’re aiming to take on bigger projects or want to keep your operations running smoothly, our latest whitepaper, "Building a Working Capital Toolkit," dives deep into the strategies you need to take control of your cash flow and grow your business with confidence. Here's what you'll learn: ✔️ How to build a diverse capital stack—which includes cash, credit cards, lines of credit, supplier terms, and more—to stabilize your cash flow ✔️ How to calculate your maximum cash deficit and protect your business against slow payments ✔️ Why having multiple working capital options can be a game changer, especially in today’s competitive market ✔️ Payment collection strategies that top subcontractors use to get paid faster This guide gives you the tools to stay ahead of cash flow issues and plan for sustainable growth. Download your free copy today at the link in the comments.

At Billd, we're tackling one of the biggest gaps in financing for construction—quantifying the unknown risks Subcontractors face. Just as FICO scores have revolutionized consumer lending by providing a standardized measure of risk, we're creating a predictive model that accurately reflects the true risk of working capital finance to Subcontractors. As we continue to refine our models, we are proving to the capital markets that the risks associated with Subcontractor lending are lower than previously thought. Over time, this should lead to lower borrowing costs for Subcontractors, increased stability in the construction industry, and more efficient allocation of capital across the supply chain. This will not only benefit Billd customers, but will have ripple effects throughout the commercial finance industry. The construction industry is on the brink of a transformation in how it approaches finance, particularly when it comes to lending to Subcontractors. To learn more about our mission to challenge the status quo, check out the link in the comments.

Working capital can be used strategically at best, or carelessly at worst. What's the difference? Using working capital carelessly can look like:  - Relying too heavily on one form of capital - Acting reactively instead of proactively  - Deploying capital without a plan in place  If you want to create a strategic plan for how to use your working capital, here are some factors to evaluate:  👷 How hard is it to work with the GC/owner? Do they take a long time to pay? To avoid margin erosion, use your knowledge of how the owner or GC operates to justify adding a little bit extra to your bid. This padding can help you withstand the cost of slow pay, and can strategically help protect your margins as you work on projects for this owner or GC. 💰 Consider whether suppliers or manufacturers offer discounts before making a large materials purchase. These discounts can help your cash flow. If you use options like supplier terms or material financing for material purchases, you can keep other capital options available, offering flexibility you may need for other expenses. 🏗️ Take a long hard look at the project before jumping in. Large projects can seem especially tempting when they mean a big pay day, but they can also have more risk because you’re allocating more resources and straining your cash flow. Evaluate whether you have the capital to cover the project and whether it’s worth deploying capital at all. Learn more about processes you can create around deploying capital by watching our July Subcontractor Meetup, available at the link in the comments. 

We're proud to announce that Billd has been selected as one of Construction Executive's 2024 Top Construction Technology Firms 🚀 This award is a testament to the progress we’re making in building innovative solutions that help subcontractors overcome challenges that are inherent in the industry. Our efforts at Billd aren’t just about technology—they're about making a real impact on the construction industry, empowering subs to continue delivering the high-quality work that keeps America building 💪 Check out the full list of winners and see Billd featured in the financial technology category at the link in the comments section. 

Join Billd and eSUB Construction Software for a live webinar on Tuesday, October 15. We’re diving into the biggest roadblocks holding subcontractors back—both internal and external. Learn tactical steps to help boost cash flow, increase productivity, and drive profitability. Don’t miss out! Space is limited so register at the link in the comments today.

One advantage subcontractors have when it comes to designing a working capital strategy is the variety of working capital options available to them. Subcontractors have traditional options—such as lines of credit, cash, credit cards—and construction-specific financing including supplier terms. But here's the thing: Having more options does not mean you're maximizing your working capital capacity. Every dollar you spend should be backed by the right source of capital. And every form of capital has a right way you should use it. At Billd’s July Subcontractor Meetup, we provided a strategy for how to strategically deploy your capital. A top recommendation? Deploying your working capital from least to most flexible. Using flexible capital options, like cash and lines of credit, might seem intuitive given how easy or inexpensive they are to use. However, by using your most flexible forms of capital first, you potentially open yourself up to risk. When you use capital from most to least flexible, 🚧 It eats up your easy-to-use capital with non-urgent expenses, which can limit your ability to take on growth opportunities as they arise 🚨 If an emergency strikes, you’re left with only your least flexible options and their limited use cases, which puts your business at unnecessary risk 📉 Maintaining capacity in your flexible working capital serves more purposes than just payment. For example, if you eat up your LOC with project expenses, you limit your bonding capacity. For more tips on how to create a strategy before deploying your working capital, visit the link in the comments section.