Well Did you dive in or what?????????
You cant make money without risk just dont risk what you dont have or cant afford to lose!!!!!!!
Well Did you dive in or what?????????
Is it Public or Private, as a GC or Subcontractor? If private I'd be very cautious & as you said have an atty review the contract. If Public I wouldn't be too worried. Make sure you get your Schedule of Values set up & approved right away, then bill 3.5% immediately for mobilization & upfront costs (insurance, overhead, submittals, etc). Good luck.
I have the chance to bid on a very large project "to me", the problem is I do not have sufficient operating capitol for a project of this size. is there a way to establish a line of credit based on the particulars of the project? I really don't want to leverage my personal assets, I don't think that would cover it anyways. I cannot walk away from this until every option has been explored. this project is going to happen with or without me and I need to step up and make this happen. btw the way the way some of the proceeds from this job will be used for a new boat so this is directly boating related .
I am a business development officer for a direct lender (factor). If you still need the financing, I will be able to assist you, either through my lender or through one of our many affiliate lenders.
Some of the benefits include:
More working capital to capitalize on tremendous business opportunities.
Setting you up with a construction oriented factor
Possibly No personal guarantees (recourse), meaning we assume the risk
Usually about 70% upfront, the 30% minus the discount rate upon payment from your customer.
Usually funds within a couple business days.
Your credit is not important, we mainly look at your customer's credit.
Possibly no personal financial statement.
All of these benefits vary a little depending on which factor your criteria fits into.
I would need to know more about your company to assist you further. Please PM or call me (949)394-3737 to discuss this further.