General contractor loans give you fast access to capital so you can pay subcontractors, buy materials, and mobilize crews without waiting 30-60 days for owner payments. Platform Funding provides general contractor business loans from $10,000 to $2 million with decisions in 24-48 hours.
What General Contractors Use Financing For
You use general contractor loans to cover the gap between paying your subcontractors and receiving payment from property owners. A single $250,000 commercial project can require $80,000 in subcontractor payments before you see the first draw.
GC business financing also funds equipment purchases, performance bonds, and mobilization costs when you win multiple bids in the same month. Many contractors pull $50,000 to $150,000 to start two or three projects at once without draining their checking account.
Contractor line of credit gives you flexible access to funds for ongoing needs. You draw what you need to cover retainage, material deliveries, or payroll across several active jobs. Equipment financing lets you finance loaders, excavators, and trucks used across job sites while keeping cash available for labor and subs.
Cash Flow Challenges for General Contractors
You pay subcontractors and suppliers before owners pay you. This 30-60 day gap creates serious pressure on your bank account. One delayed payment on a $400,000 project can leave you short $120,000 while your crews and subs still expect to be paid on time.
Retainage on commercial projects holds back 5-10% of every invoice until final closeout. On a $1.2 million job, that means $60,000 to $120,000 of your own money is tied up for months. Many general contractors have $200,000 or more sitting in retainage across multiple projects.
Winning several bids in the same month multiplies the problem. You need capital to mobilize crews, order materials, secure permits, and pay performance bonds on all projects at once. Without general contractor working capital, you risk turning down profitable work or stretching your resources too thin.
Financing Options for General Contractors
Business loans work best when you have a specific, one-time capital need. Use them to cover subcontractor payments before the owner pays, mobilize a large project, or meet a bonding requirement. You receive the full amount upfront and repay with fixed monthly payments.
Lines of credit provide ongoing general contractor working capital across multiple active projects. You draw only what you need when cash gets tight, then repay and reuse the limit. This option matches the unpredictable timing of draws and retainage releases.
Equipment financing lets you purchase or refinance owned equipment used on job sites. You keep more cash in the business while spreading the cost of trucks, excavators, and other machinery over time.
Platform Funding delivers all three options with no collateral required and no minimum credit score. Bad credit is considered if your business meets the revenue requirements.
Eligibility Requirements
- In business at least 6 months
- Average monthly revenue of $12,500 or more
- Three months of business bank statements (no tax returns needed)
We approve general contractors with bad credit, recent tax liens, or past credit issues when your bank statements show consistent deposits. Funding ranges from $10,000 to $2 million. We have funded over $2 billion+ to more than 30,000 businesses and maintain an A+ BBB rating and 4.9/5 Trustpilot score from 574 reviews.
How to Apply
- Visit platformfunding.com/apply-now and complete the short online application. Upload three months of business bank statements.
- Our team reviews your information and delivers an approval decision within 24-48 hours.
- Once approved, review and sign the documents. Funds transfer to your business bank account in as little as one business day.
Frequently Asked Questions
How much general contractor business loans do most GCs request?
Most general contractors borrow between $50,000 and $250,000. This range typically covers subcontractor payments on one or two active projects or provides enough contractor line of credit to handle retainage and mobilization across several jobs.
Can I get financing for general contractors if I have bad credit?
Yes. We have no minimum credit score requirement. Approval is based primarily on your business bank statements and monthly revenue. Many contractors with credit challenges receive approval when their deposits average $12,500 or more per month.
How do general contractor loans help with retainage?
Retainage often ties up $75,000 to $200,000 or more on larger commercial projects. A business loan or line of credit replaces that cash so you can continue bidding on new work and paying your subcontractors on schedule instead of waiting for project closeout.
What is the difference between a business loan and a contractor line of credit?
A business loan gives you one lump sum for a specific need, such as starting a large project or meeting a bond requirement. A contractor line of credit provides reusable working capital you can draw from and repay as draws and retainage come in across multiple projects.
Ready to secure the cash flow your contracting business needs? Learn more about construction financing options here. Apply today at platformfunding.com/apply-now and get a decision within 24-48 hours.
