SMALL BUSINESS LOANS
ELECTRICIAL CONTRACTING
Financing for an Electrical Contracting Business
Getting financing for your electrical contracting business is vital when taking on a large project or just looking to expand, and with expansion, on many occasions, most contractors require financing to properly carry it out.
Getting that New Large Project
Well you did your homework, submitted your bid and now you’re waiting to see if it gets approved. Now that your bid has been approved, it is more than likely that you will need some financing for one reason or another. Taking on newer and larger projects can need more cash flow to ensure that everything flows smoothly for you and your clients.
Putting Your Crew Together
Hiring skilled workers for electrical is extremely important. This does not come cheap and for a reason. Electrical work is dangerous work sometimes. Not having skilled workers can raise your liability extensively. Costs can start rising superfast. Having all of your journeymen certified will also increase the chances of landing more bids that will help your business grow.
Equipment
The larger the job, the more tools and equipment you will need compared to just having a small crew to run a job. This can include various size pipe benders, wire pullers and now with all of the specialized electronics (mostly low voltage) require special testing equipment to ensure everything is working properly.
Expansion
Financing expansion for contractors can get costly quite quickly. Yes expanding the fleet with more trucks and basic service vehicles is expensive. Specialty vehicles are even more expensive. Bucket trucks and backhoes, combinations and other diggers can start to skyrocket costs fast.
Expanding the yard will be needed knowing that you are looking to get more equipment and materials. We all know that property is expensive and you will need more when you are expanding.
Sources of Financing
Sources of financing your electrical contracting business are not that limited, but getting the money in a timely manner can be difficult for some contractors. We can help expedite the process by making it easier to apply for a loan. 2LendFast has 3 simple steps.
We Make it Simple
2LendFast makes the whole process simple. We don’t like complicated processes either. This is why we have a smooth, simple way for your to get the money that your need for your shop. We make it super fast.
Call us today and explore your options for bad credit small business loans.
Contact or call us and we can help you through the process. We make it simple to get financing for electrical contractors because we are in the business to help you get going and progress your contracting business.