FK CONSTRUCTION FUNDING PROGRAMS
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FK Construction Funding provides A-Z cash management, funds control, and risk mitigation solutions that are custom tailored to the commercial construction industry. In addition to our cash management services of advancing funds, we will arrange for;
- Credit reference letters
- Funds for payroll
- Payment of union dues
- Payment of insurance premiums
- Collection of lien waivers
- Collection of req. docs w/ ea. pay app
- Mobilization funding
- Supplier and vendor credit lines
- Payment to subs, suppliers & vendors
- Material deposits
- Cash for operating expenses
• Monitoring of subs for liens, judgments, bankruptcies, corporate status, UCC filings, name changes, defaults and IRS 940’s.
You Build it…We Protect it!
We have funded over 300 commercial construction projects in 36 states. Our clients are contractors, sub-contractors, suppliers, owners, sureties and banks whose construction projects range in size from as small as $100,0000 to as large as $20,000,000.00.
Headed up by Frank Skelly the team has over 60 years’ combined experience working and financing construction projects. As an ex-General Contractor and Developer, we understand what it takes to build, finance and protect your projects not to mention keep them running smoothly.
How Cash Management & Funds Control Protects Owners, General Contractors, Suppliers & Subs
- Project funds will only be released with general contractor and/or owner approval.
- Project funds are not diverted, misused or comingled with other projects.
- The release of profit and overhead is strictly controlled and front-loading is avoided.
- Cost overruns are quickly identified and are promptly highlighted.
- Every sub, supplier and vendor lien release is properly secured prior to funding.
- Every item on our control checklist is collected and verified PRIOR to release of funds.
*Remember….75% of claims on bonded projects are due to non-payment of subcontractors and suppliers…..most of these problems are due to mishandling of funds (co-mingling project funds…robbing from Peter to pay Paul)
How Risk Mitigation Benefits Our Clients
Our program was specifically designed to help mitigate the risk of delays, work stoppages, lawsuits and mechanics liens. When subs, suppliers, and vendors are not paid this results in job stoppages and delays. If not addressed promptly it can result in mechanics liens being filed on your project, labor department and union issues for unpaid workers. All this leads to cost overruns. The most common problem that plagues construction projects is people not being paid on a timely basis.
Our program mitigates the risk of
- Delays
- Job stoppages
- Lawsuits
- Mechanics Liens
How It Works
OWNERS, ARCHITECTS & ENGINEERS – are uniquely situated to require funds control as part of the bid process to mitigate risk. This all comes at NO COST* to them. By making our service part of the bid requirement one can ensure that the owner is protected and just as importantly that your reputation is protected. Likewise, General Contractors can (and should) utilize our services for the following reasons;
LARGER CONTRACTORS – our program is a bonding alternative that will let you use the team of subs you want, regardless of their creditworthiness or ability secure a bond. Your subs and their suppliers & vendors will all be paid promptly (usually within 1-2 business days of receiving an approved pay application).
SMALLER CONTRACTORS – our program will help you win larger projects and more importantly allow you to complete larger projects in a timely fashion. Likewise, it will allow you to pay all your subs, suppliers and vendors promptly (usually within 1-2 days of receiving an approved pay application).
SUBCONTRACTORS – often the smallest players on commercial construction projects they are expected to take on the lion share of the financial risk. We eliminate the financial barriers that prevent most subcontractors from taking on more work and growing their business.
SUPPLIERS & VENDORS – program was specifically designed to mitigate the risk associated with extending credit to contractors and sub-contractors on commercial construction projects. Our supply side partner program solution is uniquely designed to ensure that all suppliers and vendors are paid within days of the billing period rather then in months as is customary.
OUR SERVICES INCLUDE – paying subs, suppliers, vendors, union dues & insurance premiums • collecting lien waivers • providing funds for payroll • collecting required documents w/ each pay app • monitoring subs for liens, judgments, bankruptcies, corporate status, UCC filings, name change, defaults and IRS 940’s.
Who Are Our Clients
- General Contractors
- Subcontractors
- Sureties & Banks
- National Suppliers & Vendors
- Owners, Architects & Engineers
*The cost is passed onto the subs, suppliers, and vendors in exchange for early payment.
FK Construction Funding has a long track record of protecting subs suppliers, vendors, general contractors and owners on commercial construction projects.
Let us level the playing field…
FK CONSTRUCTION FUNDING PROGRAMS
If you are interested in our services, please call (833) 352-3863 Option 1 or click the Apply Now button.
Whether you are general contractor, sub-contractor, supplier or owner we have a solution for you. We provide an array of construction finance and funds control solutions for every commercial construction project.
In order to begin the financing process, we require some information about your company and the construction project you would like to finance. Please, click the button below.
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