Originally posted by blogadmin on billd .com
By the Numbers
4 Future Projects Awarded Because of Billd | $7 Million Project Value
When Houston-based Maxx Builders landed a project in the Austin market, they were in this exact position. As a company that often relied on net terms to buy materials from existing supplier relationships, finding local vendors was top priority. But good terms require credibility with your supplier, and the fact of the matter is, that takes time. Time, unfortunately, they didn’t have.
With a project in Austin already awarded, Maxx had two options:
Why Cash Flow Dependence Isn’t Sustainable, Even for Established Contractors
Maxx was in the habit of self-funding project materials, at least when they didn’t have access to 30-day terms. They self-funded for the majority of projects they took on.
There’s a common misconception that “large” construction companies, no matter the trade, can confidently and consistently dip into their cash reserves to buy materials. This isn’t always true. Maxx Builders is a great example of an established company who had the resources to fund their materials with cash, but swiftly found it wasn’t a savvy long-term strategy.
That’s when they found Billd.
After coming across ads for Billd on LinkedIn, Instagram and Facebook, they decided to investigate the attractive alternative Billd offered: project-based material financing.
They were drawn to Billd as a solution for long, flexible payment terms, which they could qualify for immediately, instead of waiting to build those key relationships with suppliers. In this instance, they couldn’t justify financing through a bank.
For that exact reason, when contractors enter new markets with no existing vendor relationships, Billd isn’t just a useful tool – it amounts to a financial strategy that’ll help them better navigate the market.
By the Numbers
- 4 Future Projects Awarded Because of Billd
- $7 Million Project Value
The Billd Customer Experience – In Their Own Words
“It’s been excellent, we’re very very satisfied with our account rep. The customer service is top of the line. And one of the biggest things we love is Billd’s integration with Procore. It aligns our financial data when using Billd on projects. We absolutely recommend them.”
Their advice for contractors considering Billd?
Maxx empathizes with other contractors’ “fear of scams” and overall resistance to alternative forms of financing in this industry. They hope their experience with Billd helps refute that perception. They explain that when you’re growing into new markets, location-wise or taking on new types of projects, Billd is simply an excellent resource to have.
It comes down to a simple truth:
“There’s always delayed pay apps in the construction industry. If you can pay the vendor earlier, you absolutely should.”
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