Across the United States, construction companies are trying to position themselves for major growth. If this past year has been any indication, construction companies will be taking on projects of all sizes over the next few years. In order to remain competitive and efficient, construction businesses will need to expand and upgrade their equipment.
Construction Companies See Growth in Both Private and Public Sectors
This past year saw a big increase in property renovations and new construction. With construction companies taking on renovation projects for property flippers, as well as long-term contracts for construction from the ground up, having the right equipment can mean the difference between adhering to timelines or countless delays due to older machinery or not enough equipment to handle the workload. Similarly, this country is placing a large emphasis on infrastructure. From oil and gas pipelines to roads and bridges, the overlap between the private and public sectors requires both contracted construction companies and municipal departments to invest in equipment to get the best results and returns.
Equipment Financing for Construction
If you are acquiring new equipment for your construction company, you may notice that the cost has risen over the past few years. The increased demand for construction equipment has moved vendors to raise their prices in order to keep items in stock. For business owners in need of construction equipment, paying the total upfront and out-of-pocket can be very cost-prohibitive. With a high initial cash outlay, many business owners look at financing options. However, traditional lending channels do not offer equipment financing outside of single-use loans, which may not fit the requirements of upcoming projects. To overcome these challenges, construction companies are taking advantage of equipment leasing programs and even special lines of credit designed specifically for equipment orders. By getting flexible financing tailored to your needs, you can get the equipment you want in order to maximize your profits and position your business for growth in the upcoming year.
At Derix Capital Finance, we work directly with you to understand the scope of your current projects, as well as your goals, in order to provide the right funding solutions. Contact our offices today to learn more about our equipment financing and leasing options for construction companies.