Financial issues can be a deep challenge for many contractors. While the situation is often unavoidable, there are ways to overcome these financial struggles and grow your business.
In today’s episode, I welcome Jesse Weissburg, the co-founder and chief commercial officer of Billd, a company specialized in providing accessible funds to different contractors. Jesse discusses the importance of leverage financing. He also delves into why most banks don’t take risks with contractors, and the kind of help that Billd provides for contractors looking for financing options to sustain and grow their business.
So, tune in now to learn important notes about leverage financing.
What’s Discussed in This Episode:
- What is leverage financing and who needs it [01:48]
- Negative views on financing in the construction industry [03:32]
- Leverage financing over cash [05:52]
- Distinguishing the right type of financing [06:27]
- Why traditional financing is difficult for contractors [07:10]
- Different financing options and their sustainability [08:34]
- Factoring [08:41]
- Line of credit [10:08]
- Material financing [11:31]
- The benefits of the Billd approach [13:10]
- How general contractors can help their subs financially [14:35]
- The processes of Billd [15:45]
About the Guest:
Jesse Weissburg started his career in the financial services industry more than a decade ago. He is an expert in providing sales and marketing strategies for different companies. His expertise and knowledge about the business community’s financial aspects make him a reliable and competent key person in the field right now.
Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.
Thank you for tuning in!