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Payment Options for Cash-Flow-Challenged Contractors


Presented by: Jesse Weissburg

Free Webinar

August 22, 2019
9:00 AM to 10:00 AM PST


Price: Free for CMA Members


 

Description

If you're in the construction industry, many job accounts pay when paid. On average, it typically takes sub-contractors 80-90 days to receive payment from the GC/property owner. Net 30 terms work for contractors who are well capitalized and are efficient at running their businesses (ie., process paperwork in a timely manner with GCs), but for new and/or growing contractors, it can be difficult to manage their cash flow and (1) get approved for credit, (2) receive a credit limit that meets their material purchasing needs and (3) pay back terms within a 30-day time period. As a result, supplier credit departments are faced with (1) denying contractors which can cause tension with sales, (2) spending time chasing down payments and as a result (3) having to deal with sending contractors to collections.

 

During this short 30-minute webinar, you'll learn about some solutions to extend customer terms but still manage to get paid within your acceptable time frame. We will also discuss the challenges in the construction repayment cycle, how Billd thinks about credit, and their process to review/underwrite contractors.



Presenter Bio:

Jesse Weissburg is the senior vice president of development for Billd.



For More Information Contact:
Ann Westpy (702) 2592622-0 awestpy@emailcma.org
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