By: Todd Feuerman
Construction financing continues to be a challenge for many contractors in the United States. Even during the pre-recession period, lending to construction firms presented challenges to most banks. While the national, regional and community banks have cash to lend, many construction firms are faced with difficulty securing financing. This is especially true for contractors who need bank lines of credit to fund short-term working capital needs. Unless a construction firm has a financially sound balance sheet, consistent profitable results and a properly capitalized company, banks generally pause prior to providing financing to a construction firm.
In the April 26th online edition of Construction Global, Todd Feuerman, Director at Ellin & Tucker and Chair of the firm’s Construction Services Group, shares his expertise on financing trends in the construction industry.
To view the article, visit Financing Trends in the Construction Industry on Construction Global’s website.
As chair of the firm’s Construction Services Group, Todd has over 25 years of experience providing audit, accounting, consulting and tax services to general contractors, specialty contractors, government contracting firms, as well as construction-focused banks and surety firms. His extensive expertise and inside knowledge of the construction industry enable him to provide the highest level of practical and technical financial consultation to entities which are construction industry centric.