So you have a small construction business quick cash fund to finance it. You outsource your contracts from a main contractor which means you are a sub contractor (subcon) provider. You have an upcoming project and you don’t know where to source funds to buy initial construction materials and equipment for your start up business. Questions is, are there lending companies, banks or private financiers where you can get quick cash fund either thru loan or some sort of bridge financing? A loan in short.
In Asia and many other third world countries where construction projects abound here and there, sub contracting business is a profitable way to get ahead of the competition. Starting small is not bad and when you learn the do’s and dont’s as well as where you can source out cheap labor to provide or cheap materials to use. We call this as wholesale bought price which may probably be cheap because you can buy them from the very main source thru contacts or you have a major contractor who knows where you can get your construction materials. The problem is if you don’t have the funds and even though you already know what to do and you have the manpower supply to finish a small sub contract, you can’t start your project. So where do you get funds for this project like some sort of bridge financing? What types of loans are available for sub contractors like you.
Who Can Apply for Quick Cash Fund?
What Loan Offers 1 Day Release?
Practically, anybody can do this for as long as they have either of the 3 basic collateral to use. I must admit this falls the same level as for bigger project engineers, architects, civil engineers and other construction people out there. It falls in the same situation even if you are a major construction company or a major contractor. In my case as a loan agent / consultant for more than 3 years for multiple lending company providers, I’ve already catered to different cases of small time and big time contractors out there who need the money to finance a project. You can be some small player who suddenly got big projects and needs some funding to finance a pet first time construction project or you may be the main contractor. You surely can’t resist the need to borrow cash loan as a first step to go big time next time. Will possibilities end here? No! If you live in the Philippines and is doing the same business, there is always hope. Yes, there is hope and even if you are doing the same job elsewhere there is an answer. It is generic and easy to understand and for those who haven’t realized it yet, allow me to lighten you up with your options to borrow quick cash funds with lenders. Below are your choices and enumerated. All you need is somebody to assist you in applying for your loan. That is absolutely me!
3 Cash Loan Choices to Get Quick Cash Fund
- Car Collateral Loan
- House and Lot Collateral Loan
- Vacant Lot Collateral Loan
Although above is the major list we have, we used to offer check rediscounting type of loan which sadly doesn’t exist to this day anymore. There may be a few offers out there but I no longer cater to this type of quick cash fund source anymore. To help you realize it if you are one of those people who currently needs money to use for a pet project in the construction business, below are some pointers and major reasons why you should go for a collateral loan option first.
14 Advantages of Using a Collateral to Apply for Loan
- Quicker to apply for
- Easier to qualify
- More providers waiting in line to lend you money
- Fast processing loan up to 1 hour fastest possible for car impounding loan. Personal loan takes 5-7 days and involves C.I or credit investigation while collateral loans usually doesn’t.
- Bigger cash to borrow from lenders,banks and private financier providers
- Offers lower interest rate than personal loan and other types of non collateral loans
- More flexible longer terms available up to 5 years for real estate property collateral
- Less requirements needed to submit
- Less hassle to process
- Usually doesn’t need a co-maker or co borrower to qualify
- May sometimes not require you to have a legitimate documented income in black and white paper
- May sometimes allow bad credit and borrowers with c map or credit bureau negative records
- May allow people who can’t qualify to loan money from banks and private lending companies like lawyers, military men, police men, brother Muslim, media personality, political officials, people without work, people with court cases and more
- Flexible loan payment terms and adjustable reconsideration payment for those who communicate if they have problem of providing the money needed to pay for monthly amortization dues
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