Business Line of Credit for Construction.
Construction operators turn to business line of credit when mobilization capital for newly awarded contracts or heavy equipment purchases and fleet upgrades can't wait on a bank timeline. Summit underwrites the sector against time in business, not just two years of clean returns.
Business Line of Credit for construction.
Standby revolving capital for payroll, materials, and project mobilization between draws.
For construction business line of credit placements, expect credit limit of $25K – $500K, apr of 10% – 30%, draw term of 6 – 24 Months. Qualification typically requires time in business 12+ Months and annual revenue $250,000+.
- ◆Mobilization capital for newly awarded contracts
- ◆Heavy equipment purchases and fleet upgrades
- ◆Bridging retainage and AR collection cycles
- ◆Payroll and material costs ahead of progress draws
What to expect.
Business Line of Credit · Construction.
Standby revolving capital for payroll, materials, and project mobilization between draws.
Most construction business line of credit placements close in 3 – 7 days. Summit's desk routes the file to the lenders most active in this sector.
Last 3 – 6 months of business bank statements. Most recent business tax return. Personal financial statement for owners (20%+).
Initial review is a soft pull. A hard inquiry only happens after you select an offer and proceed to closing.
Get business line of credit for your construction operation.
Indicative terms within 24 hours. No hard credit pull.
Begin Pre-Qualification →