323: Construction Bridge Loans with Chris Doyle
The How of Business - How to start, run, grow and exit a small business.
Henry Lopez, Levante Business Group
4.7 β’ 522 Ratings
ποΈ 27 July 2020
β±οΈ 49 minutes
ποΈ Recording | iTunes | RSS
π§ΎοΈ Download transcript
Summary
How contractors can use (at 16:11) Construction Bridge Loans to manage the cash flow issue related to materials expense with Chris Doyle. Chris Doyle is an entrepreneur and the President and CEO of Billd β specializing in helping contractors buy materials now, and pay their suppliers later.
Henry Lopez is a serial entrepreneur, small business coach, and the host of this episode of The How of business show β dedicated to helping you start, run and grow your small business. (TheHowOfBusiness.com)
Transcript
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| 0:00.0 | This episode of the How a Business is brought to you by Stroke of Genius. |
| 0:09.0 | The Stroke of Genius podcast is back for season three. |
| 0:12.8 | Each episode tells a different story from the world of intellectual property, |
| 0:17.0 | with cool interviews with green entrepreneurs, innovative scientists, and other creative minds. |
| 0:23.1 | Find The Stroke of Genius Show on Apple Podcasts or wherever you listen to podcasts. |
| 0:30.5 | Welcome to The How of Business with Henry Lopez and David Begin, the podcast that helps you start, run, and grow your small business. And now, |
| 0:39.1 | here are your hosts. Welcome to this episode of the How What Business. This is Henry Lopez. |
| 0:44.6 | And my guest today is Chris Doyle. Chris, welcome to the show. Glad to be here. Great, great to have you. |
| 0:50.5 | We're going to chat about the cash flow challenge that is faced by a lot of contractors |
| 0:55.5 | and other similar businesses and subcontractors. And when they have to buy materials for a job, |
| 1:02.1 | for example, you know, a contractor has to pay for the supplies up front, but may not collect |
| 1:07.6 | from the client or the general contract for 30, 60, 90, sometimes even more |
| 1:13.3 | before they get paid. |
| 1:15.1 | So you have that cash flow situation. |
| 1:17.8 | From a supplier's perspective, there's the challenge of balancing receivables, credit, |
| 1:22.4 | and of course the desire to sell more materials. |
| 1:25.7 | But it's all of those. |
| 1:27.5 | That's a big, that's what you of those. That's what you deal with. |
| 1:28.9 | That's what you dealt with in your business, right, Chris? |
| 1:30.9 | Yeah, that's right. |
| 1:31.9 | Yeah. |
| 1:32.6 | So Chris is going to explain how his company billed to B-I-L-D helps bridge that |
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