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Restoration: How to Manage Cash Flow While Waiting for an Insurance Check

Levelset

Restoration contractors can spend a lot of time waiting for payment. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. 5 tips to manage cash flow on a restoration project.

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Proactive Contractors Use Lien Services To Protect Cash Flow

Contractor Bookkeeping

Proactive versus reactive are the two methods of getting something done. I find everyone works in a combination of both, I included. Proactive is scheduling and doing everything ahead of time. Nothing is ever waiting until the last minute. Reactive is more emergency driven and are things that need to be done now.

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What is Retainage in Construction?

Lets Build

Almost every construction professional faces the same problem – cash flow. Large upfront costs and long waiting periods between payments are a normal occurrence; retainage adds to this cash flow problem for contractors and project managers. What every construction contractor should know about retainage.

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4 Key Habits of Large, Successful Contractors

Levelset

Levelset’s recent 2022 Cash Flow & Payment Report revealed some key differences between large, successful contractors and smaller construction businesses. Learn more: How to prequalify a general contractor. Large contractors are more likely than small contractors to use these strategies to get paid.

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5 Ways to Improve Cash Flow in Your Construction Business

Levelset

How individual specialty contractors handle these costs vary, but as the saying goes, “Cash is king.” From buying materials to hiring crews, business begins when cash flows. If you’re a specialty contractor who needs cash flow solutions, you’re not alone. Protect your lien rights.

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7 Things Contractors Need to Know About Retainage

Fieldwire

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. The basics of retainage Retainage, also called retention, is an amount withheld from the contractor until a later date.

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How a Construction-to-Permanent Loan Impacts Contractors & Lenders

Levelset

However, before starting work on a building financed with a construction-to-permanent loan, both property owners and contractors need to understand the risks. Contractor risks with a construction-to-permanent loan. These risks should be a non-issue when contractors have a comprehensive risk management plan in place.