Billd

Subcontracting executives and CFOs—this one's for you 🏗️ With cash flow challenges affecting 46% of subcontractors last year, it’s time to think strategically about how you're financing projects and protecting your business's profits. Introducing "Building a Working Capital Toolkit," our latest guide designed to help you master the art of managing and optimizing your working capital. Inside the whitepaper, you'll discover:  ✔️ A playbook to maximize your working capital options and protect your cash flow ✔️ Calculations to determine the amount of working capital your business needs  ✔️ Strategies for deploying your capital ✔️ Proven payment collection strategies Don't let cash flow disruptions slow you down. Get proactive, and start making working capital work for you. Download your free copy today at the link in the comments.

We're thrilled to be recognized as one of Austin Business Journal's Fastest Growing Companies in 2024! 🎉 Billd ranked 22nd among the fastest-growing private companies in central Texas. Award winners are selected based on the past 3 years of revenue growth and rankings were announced last week. This award is a true testament to our team's relentless effort. Congratulations to our fellow award winners on this accomplishment and recognition for their hard work. 

Billd is looking to deepen our supplier relationships—and we need the right Business Development Manager in place to help us do it. Could that person be you? Our Business Development Manager will lead and grow our supplier channel by acquiring new partner suppliers, deepening relationships with existing partner suppliers, and ensuring the channel delivers on acquisition targets. The ideal candidate has proven success in sales and building channel partnerships; experience with commercial building material suppliers; and loves the challenges that come with standing up a new partnership channel. A background in construction/finance is preferred. Some of the perks to working at Billd include flexible PTO, parental and family leave, and a dog-friendly workspace in our Austin headquarters. We're committed to disrupting the $1.4T construction industry and we need the right team in place to accomplish that. To learn more about the position, check out the link below.

Two-thirds of subcontractors surveyed in the 2024 National Subcontractor Market Report experienced double digit growth year over year, with over 50% of respondents reporting 11% to 40% growth. Growth is exciting. It opens doors to new projects, bigger contracts, and greater revenue. But without a clear plan to scale effectively, that growth can cause your business to stall. Not knowing how to manage larger teams, tackle more complex jobs, or make the right hires can quickly turn opportunity into something more overwhelming. That’s where Jerry Aliberti, principal at Pro-Accel, comes in. He’s helped subcontractors across the country successfully scale and avoid common pitfalls subcontractors experience as they grow. In his three-part series, Jerry shares his top strategies for subs in the $2-$8M, $8-$25M, and $25M+ revenue ranges—covering operational changes, key hires, and more. For a roadmap to a smart growth plan at each of these stages, visit the links in the comments section. 

🚨 Don't miss our final Subcontractor Meetup of the year! 🚨 Join us Tuesday, November 19, as Josh Luebker, construction consultant and fractional CFO, walks you through how to account for the cost of capital and include it in your bids. Subcontractors who account for the cost of capital are 11% more profitable than ones who don't according to the 2024 National Subcontractor Market Report. Join this virtual session to discover tactical ways to protect your profits, including how to: - Create a process for determining your monthly cost of capital  - Calculate the cost of capital on your next project so you can include it in your bid  - Determine which working capital options work best for your business Space is limited so register now to save your spot! 

We're proud to announce today that Billd has secured $17.5M in strategic funding in our latest investment round. This investment helps accelerate our mission, further solidifying our role as an indispensable partner to subcontractors and empowering us to continue driving innovation in construction finance. The round was led by LL Funds and MissionOG, with RJT Credit, Ulysses Management, and HighSage Ventures also participating. This marks the first investment from MissionOG, a growth equity firm with deep expertise in fintech and lending, and HighSage Ventures. Together, these companies are dedicated to our mission to expand financial solutions to meet the ever-growing demands of the construction industry. “This investment represents a significant milestone for Billd,” said Billd CEO Christopher Doyle. “Our investors understand the complexities our customers face and share our commitment to empowering subcontractors. By working together, we are in a stronger position to accelerate our growth, expand our reach, and innovate at a pace that meets the evolving needs of our customers.” Learn more about this strategic investment round at the link in the comments section.

Sick of waiting on payments while your cash flow takes a hit? You’re not alone. For subcontractors, steady cash flow can mean the difference between scaling and barely surviving. Yet, your Days Sales Outstanding (DSO) is often out of your control, leaving you at the mercy of payment delays. Monitoring your DSO across projects and GCs can be helpful when determining whether to bid on new projects. But how will that information help you if you're already on a project and hitting payment delays? It isn't enough to know your average DSO; you need an action plan for what to do when DSO get strained. Without one, you could find yourself in a serious cash crunch while waiting on your GC to cut a check. But you don't have to figure this out on your own. We've created a blueprint you can use when DSO get strained that helps you get cash back into your business quickly. By following these steps, you can:  -Proactively monitor your AR to identify delayed payments—before they become a problem -Create a more consistent cash flow for your business -Forecast more accurately  Visit the link in the comments to get the step-by-step action plan you can take to help stabilize your cash flow. 

🚨 Unlock your working capital potential 🚨 Whether you’re aiming to take on bigger projects or want to keep your operations running smoothly, our latest whitepaper, "Building a Working Capital Toolkit," dives deep into the strategies you need to take control of your cash flow and grow your business with confidence. Here's what you'll learn: ✔️ How to build a diverse capital stack—which includes cash, credit cards, lines of credit, supplier terms, and more—to stabilize your cash flow ✔️ How to calculate your maximum cash deficit and protect your business against slow payments ✔️ Why having multiple working capital options can be a game changer, especially in today’s competitive market ✔️ Payment collection strategies that top subcontractors use to get paid faster This guide gives you the tools to stay ahead of cash flow issues and plan for sustainable growth. Download your free copy today at the link in the comments.

At Billd, we're tackling one of the biggest gaps in financing for construction—quantifying the unknown risks Subcontractors face. Just as FICO scores have revolutionized consumer lending by providing a standardized measure of risk, we're creating a predictive model that accurately reflects the true risk of working capital finance to Subcontractors. As we continue to refine our models, we are proving to the capital markets that the risks associated with Subcontractor lending are lower than previously thought. Over time, this should lead to lower borrowing costs for Subcontractors, increased stability in the construction industry, and more efficient allocation of capital across the supply chain. This will not only benefit Billd customers, but will have ripple effects throughout the commercial finance industry. The construction industry is on the brink of a transformation in how it approaches finance, particularly when it comes to lending to Subcontractors. To learn more about our mission to challenge the status quo, check out the link in the comments.

Working capital can be used strategically at best, or carelessly at worst. What's the difference? Using working capital carelessly can look like:  - Relying too heavily on one form of capital - Acting reactively instead of proactively  - Deploying capital without a plan in place  If you want to create a strategic plan for how to use your working capital, here are some factors to evaluate:  👷 How hard is it to work with the GC/owner? Do they take a long time to pay? To avoid margin erosion, use your knowledge of how the owner or GC operates to justify adding a little bit extra to your bid. This padding can help you withstand the cost of slow pay, and can strategically help protect your margins as you work on projects for this owner or GC. 💰 Consider whether suppliers or manufacturers offer discounts before making a large materials purchase. These discounts can help your cash flow. If you use options like supplier terms or material financing for material purchases, you can keep other capital options available, offering flexibility you may need for other expenses. 🏗️ Take a long hard look at the project before jumping in. Large projects can seem especially tempting when they mean a big pay day, but they can also have more risk because you’re allocating more resources and straining your cash flow. Evaluate whether you have the capital to cover the project and whether it’s worth deploying capital at all. Learn more about processes you can create around deploying capital by watching our July Subcontractor Meetup, available at the link in the comments.