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Cash flow woes: The reality of running a construction company
Running a construction company is tough, and the financial hurdles often feel endless. Rising material costs, expected to increase by as much as 6% in 2024, make budgeting a challenge. Lumber, steel, and concrete prices rise year after year, and bidding competitively while managing these fluctuations can feel like walking a tightrope. Add the difficulty of maintaining a reliable workforce, with rising wages and labor shortages, and it becomes even harder to stay on track.
Then, there’s the constant need to maintain or replace equipment, stay compliant with evolving regulations, and meet deadlines that never seem to give you enough time to breathe. Expanding your business? That takes even more capital for equipment, vehicles, and larger projects.
Construction companies face unique cash flow challenges. Some months, money flows in smoothly; other months, delayed client payments cause bills to pile up. With all these pressures, many construction companies struggle to grow—some are barely staying afloat. So how can your business secure the capital it needs to thrive?
Construction is growing, and flexible financing can keep your company moving
While the challenges are significant, so are the opportunities. The construction industry is advancing, with increasing demand for sustainable building, new technologies, and large-scale projects on the rise. But to take advantage of these opportunities, you need the right financing—and that’s where First Bank of the Lake comes in.
At First Bank of the Lake, we understand the unique financial needs of construction companies. With our expertise in SBA 7a and 504 loans, we’ve helped many businesses like yours navigate complex funding challenges. Whether you need capital to purchase new equipment or vehicles, or you’re looking to expand into larger projects or acquire new property, we can guide you through the process. We offer affordable terms and longer repayment periods to help keep your cash flow stable.
With over $1.1 billion in SBA loans provided, First Bank of the Lake has the experience to support your company’s growth. Let us help you secure the financing you need—because we know you’ve already got plenty to manage.
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Largest SBA Lender^
Small Businesses Helped 2020-2024
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The First Bank of the Lake rep and I bonded over faith, fishing and finance. They got my loan done in under 30 days in very, very trying circumstances.
Issac Reed
President, Reed’s Moving Services
If we ever need business capital, my first call would be to First Bank of the Lake. Why would I look elsewhere?
Barry Norfleet
Co-founder, Lifetime Green Coatings - Kentucky
I got my $345,000 SBA loan approved from First Bank of the Lake in 35 days!
Kasia Anderson
President, Woof Gang Bakery - Bradenton, FL
First Bank of the Lake was the best banking experience I have ever had.
Andy
Co-founder, President, Winter Park Ski Rental
The bank process was as easy it could be. The biggest thing is how transparent and reliable they were.
Tyler Green
Co-founder, President, Freelite AZ
My First Bank of the Lake rep was great – Easily the finest banker I have dealt with in my life.
Dan Billings
President, Tint World - San Antonio
Big thanks to Emil and the First Bank of the Lake team. I would recommend them to anyone else in a heartbeat and I would absolutely use them again.
Rock Katic
President, Perfect Moving
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