Revenue-Based Financing For Construction Businesses

At Mantis Funding, we understand the unique needs of construction companies — that’s why our revenue-based funding process is designed to be efficient and transparent, so you can get the capital you need to take on your next project quickly and confidently. Here’s what you can expect:

1. Simple Application: Our online application is straightforward and can be completed in minutes. You’ll provide basic information about your company, the project you’re funding, and your financial situation.
2. Fast Pre-Approval: Once you submit your application, our team will promptly review it to determine your eligibility for funding. You’ll typically receive a pre-approval decision within 24 hours.
3. Dedicated Funding Specialist: A dedicated Mantis Funding specialist will be assigned to your case throughout the process. They’ll answer your questions, guide you through the paperwork, and work diligently to secure your funding.
4. Flexible Funding Options: We offer revenue-based financing options tailored to the specific needs of construction companies. 
5. Transparent Approval Process: We are firm believers in clear communication – our funding specialists will keep you informed every step of the way, so you’ll always know the status of your application and what documents are needed for approval.
6. Funding Delivered Quickly: Upon final approval, we’ll work swiftly to get your funds into your account. This allows you to focus on what matters most – completing your projects on time and within budget.

By partnering with Mantis Funding, you gain a streamlined funding process and a team dedicated to your success.

Financing a construction project looks different depending on whether you’re building homes or commercial spaces. Here’s a breakdown of the key differences:

• Financing Type: Residential construction relies on construction financing. These are short-term examples of funding with higher interest rates than traditional mortgages. Funds are released in stages as the project progresses. Commercial construction, on the other hand, utilizes commercial real estate types of financing. These can be long-term with variable or fixed interest rates, and payment terms depend on the project’s scope and property value.
• Risk Assessment: Residential projects are generally considered less risky due to the established market for single-family homes. Commercial projects carry more weight in terms of risk assessment for lenders. Factors like the property’s location, tenant viability, and overall market conditions will heavily influence financing approval and terms.
• Down Payment: Residential construction financing typically requires a smaller down payment compared to commercial financing. This reflects the lower perceived risk by lenders.

Mantis Funding and Your Construction Needs:

At Mantis Funding, we understand these distinctions and offer financing solutions for both residential and commercial construction businesses. The application process itself remains largely the same, however, the specific revenue-based financing options we present will be tailored to your business revenue, with either daily or weekly payments.

Whether it’s a new neighborhood or a state-of-the-art office building, Mantis Funding can efficiently connect you with the right financing solution to turn your vision into reality.

While the core application process remains consistent at Mantis Funding, the specific documentation required will vary depending on the type of construction business you operate and potentially by state regulations. Here’s a general breakdown of what you can expect:

Universal Requirements:

• Business Documents: This includes your business plan, formation documents (like LLC certificates), and business licenses.
• Financial Statements: Recent tax returns (personal and business), profit and loss statements, and balance sheets will be needed to demonstrate your financial health.

Residential vs. Commercial Construction:

• Residential Projects: Depending on your state and lender, you might need additional documents related to the local housing market or permits for specific developments.
• Commercial Projects: For commercial projects, the focus shifts to property details. Include information on the property itself (location, zoning), lease agreements with tenants (if applicable), and market analyses demonstrating the viability of your commercial space.

State Variations:

While most documentation requirements hold consistent across states, there might be variations regarding specific permits or licenses needed for your project. It’s always a good practice to check with your local building department for any state-specific requirements.

Bonus Points:

• Contractor Information: For larger projects, information about your general contractor, including licenses, insurance, and financial statements, may be required.
• Subcontractor Information: Similarly, if you rely on subcontractors, having their licenses and insurance documentation readily available can streamline the approval process.

General Tip:

Having a well-organized folder with all your business and project documents readily available will expedite the application process.

By providing comprehensive documentation that showcases your business acumen and the viability of your project, you’ll strengthen your application and position yourself for successful funding with Mantis Funding.

At Mantis Funding, we understand that credit scores aren’t the only measure of a successful construction business. However, a strong credit history does play a role in the financing approval process. Here’s what you need to know:

• Credit Score Minimums: While there’s no single credit score requirement, some lenders propose a minimum threshold to be in place. Depending on the lender, a score in the mid-600s range is often considered an ideal benchmark. At Mantis Funding, low credit scores are OK!
• Business vs. Personal Credit: Mantis Funding typically considers both your credit history and your business credit score. A strong track record managing business finances can help offset a lower personal credit score, and vice versa.
• Beyond the Score: While credit score is important, it’s not the sole factor in securing funding. Our team considers your entire financial picture – including business cash flow, profitability, and experience in the construction industry.

Can You Apply with Bad Credit?

While having a lower credit score can make securing financing more challenging, it doesn’t necessarily disqualify you. Here are some things to consider:

• Building Business Credit: If your personal credit score is lower, focus on building strong business credit. This involves consistently paying your vendors and suppliers on time.
• Co-Signer: Consider having a partner or individual with a strong credit score co-sign on the application. This can significantly improve your chances of approval.
• Alternative Funding Options: Depending on the project scope and your financial situation, Mantis Funding might explore alternative funding options with you.

The Mantis Funding Advantage:

At Mantis Funding, we take a holistic approach to evaluating your revenue-based funding application. We understand the unique challenges faced by construction businesses, and we’re here to work with you to find a financing solution that fits your needs.

Don’t let credit concerns hold you back: Contact Mantis Funding today to discuss your project and explore your financing options.

As the construction industry in the United States is projected to reach an estimated $1,355,097 million in 2022, companies are in need of funding to continue to support their employees and ongoing operational costs. Construction companies can benefit from financing in a variety of ways, including:

• Invest in new technologies
• Cover payroll expenses
• Overcome cash flow issues in slow seasons
• Hire new employees
• Market your company

Finding funding to expand your construction business might seem like a daunting task. Mantis Funding is here to answer all your questions and provide you with hand-tailored revenue-based financing solutions.

We service a wide variety of industries, including retail, medical, and liquor stores, as well as select franchises. Industries range from trucking businesses to nightclubs. We also service other industries that are not included on this list and invite you to fill out an application for funding so our representatives can reach out to you. We understand the unique challenges facing different industries and the peace of mind that funding provides. We will be able to assist you every step of the way.