What Do Construction Bankers Look for When Reviewing A Working Capital Line of Credit Loan Application?
Bryan LePage, Vice President and Relationship Manager at M&T Bank, is an outside contributor to AC Surety. Today Bryan discusses the construction line of credit evaluation process in 2023.
Are you a commercial or government-sector construction company considering the options for a credit facility in 2023? There are great opportunities for construction companies to get the credit they need to finance their operations and projects this year. But how should you prepare for the LOC application process?
Is a term loan or permanent capital infusion the better way to go? What type of collateral do you need? How much credit can you expect to get when applying for a line of credit? How far back does the bank look into your financials?
If you have questions about the types of line of credit facilities available for construction companies in 2023, you won’t want to miss this 4-minute video from AC Surety contributor Bryan LePage. Bryan provides an information-packed session on the credit application process, what you need to prepare for, and what you should avoid.