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What You Should Know Before Taking a Construction Loan

Construction Marketing

Before approving your loan, the lender must review your projected budget estimates, detailed construction plans, and construction timelines to decide on your loan amount. In addition to meeting traditional borrower standards, the lender will inspect and approve construction timeline estimates, proposed budget, and architectural plans.

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Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

Extracting key ratios from financial statements and safety metrics from OSHA filings allows builders to gauge a subcontractor’s short-term and long-term health — and empower estimators with the data they need to make more informed bidding decisions. . FINANCIAL RATIOS: DEBT . Debt Ratio . Debt-to-Equity .

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Biden Announces New Plan to Help Homeowners Save on Mortgage Costs

Pro Builder

Under the new initiative, the Federal Housing Administration will reduce mortgage insurance premiums by 0.3 percentage points to 0.55% for FHA-insured mortgages. The program is set to begin on March 20, and will help an estimated 850,000 U.S. The program is set to begin on March 20, and will help an estimated 850,000 U.S.

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Construction Bookkeeping Unique Features

Contractor Bookkeeping

Chart of Accounts Bad Debts. Chart of Accounts Bad Debts. Chart of Accounts Insurance Health And Dental. Chart of Accounts Insurance Liability. Chart of Accounts Insurance Vehicles. Chart of Accounts Estimates. Chart of Accounts Insurance Builders Risk. Chart of Accounts Insurance Health And Dental.

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Tips For Hiring A Residential Contractor

Construction Law Monitor

. –Lists of subcontractors and suppliers and verify that they pay their debts on time. –Proof of current insurance (should include General Liability, Worker’s Compensation and Builder’s Risk). –The contract should be modeled after standard American Institute of Architect’s (AIA) construction contract. .

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Contractors Are Renting Rather Than Buying More Equipment.

ENR Construction

Equipment rentals allow contractors to shift downtime risk while trimming expenses, including licensing, insurance, taxes and debt, among others. rental business grew an estimated 18.6% Since Owners are Demanding Designers Carry Higher Insurance Limits, Is a Split-Limit Approach Best? economy, says the Moline, Ill.

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10 Contract Terms for Higher Profitability

PSMJ Resources

Receiving money up front, depositing it, and not crediting it to the client until the last invoice has been submitted allows you to avoid a bad debt, and earns maximum interest on the deposit. In addition to normal reimbursables, ask for reimbursement for items such as liability insurance premiums, computer time, and messenger services.