Construction Business Loans Austin TX Bad Credit Ok

Are you a general contractor in Austin? We offer several loan programs where you can get up to $25,000 the same day, or up to $2 million in 1 to 3 days with bad credit for your construction business. Construction is big business in Austin. With over 3 million construction businesses in America, it makes the restaurant and trucking industry look like peanuts. However, contractors in Austin Texas, like any other business owner, need fast working capital to keep building or remodeling homes and apartments.. Here’s our Construction Business Loans Austin TX Bad Credit Ok review. 

Why Use Construction Business Loans Austin TX Bad Credit Ok

Austin is #1 for the number of new homes being built there. We lived outside of Austin in a cute town called Buda from 2014 to 2018 and we saw some huge housing tracts coming in across I-35.

Austin filed the most new home permits of 31 out of 10,000 people. More people are moving South for warming weather and affordability, and quite frankly because of politics.

However, most contractors in Austin won’t get approved for a traditional bank loan, same as most other small businesses, because banks can be super picky about who they lend to. In fact, roughly only 13% to 20% of businesses get approved for a bank loan.

On the other hand, we are a family-owned lender who has helped thousands of small businesses stay in business since 2015, and work with over 75 lenders to get you the fastest loan funding online, bad credit ok, no collateral needed.

Contractors need consistent cash flow to keep running their building crews, and waiting weeks or months for a traditional bank loan won’t cut it. The housing market is currently 4 million homes short, and contractors need to catch up to the demand.

If you have consistent revenue, make 3 business deposits per month, but need quick additional capital, we can help. Below are our main loan/advance programs for Austin contractors.

Brief Overview of Austin Construction Business Loans

The first loan option is for up to $25,000 the same day, and you need to be doing at least $5,000 per month with your construction business, be in business at least six months, and have a FICO of 550 or higher. We can lend up to 75% of your monthly revenue with this one.

The second option is for up to $2 million dollars in 1 to 3 days. You need a monthly revenue of $15,000 per month or more, be in business for at least 4 months, and have a FICO of 500 or higher. We can lend up to two times your monthly revenue. So, if you are doing $100,000 per month with your contractor business then you could get up to $200,000 in one to three days.

The key to these advances/loans is your cash flow. Yes, it seems odd you would need money if you have cash flow, but many contractors need additional working capital to begin new construction and won’t get a return until the house sells.

Austin Construction Business Loans Rates 

We use factor rates instead of interest rates for construction business loans. The range is from 1.20 to 1.49. You have up to 24 months to pay off larger loans. This rate is comparable to the entire bad credit or no collateral merchant cash advance industry.

However, if you use the working capital to greatly increase your bottom-line, then the rates are not high. It all depends on what you do with the money. If you have perfect credit, collateral, and can wait weeks or months for funds then a bank loan could be a better option. But, we help those that the banks are unwilling to help. That’s the bottomline.

How to Apply for Construction Business Loans Austin TX Bad Credit Ok

It’s an exciting time to be an Austin general contractor. With much risk there’s much reward, and so many people are looking to buy a new home. We look forward to helping every contractor get fast working capital with our Austin contractor loans online.

Simply click the apply now link below and answer a few questions. For the loans I mentioned, you will need a business checking account. Hope this helps and God Bless!



Erik C. Johnson