How a Hurricane Launched a Construction Payment Revolution

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Following the aftermath of Hurricane Andrew in 1992 Steve Wightman, a veteran of the construction industry, saw major challenges with the reconstruction progress.  “When things fall apart, builders reframe them. People depend on it. And the responsibility is huge,” explained Wightman. “People needed us, and we couldn’t move.”

The challenge wasn’t labor, or supplies, the challenge was funding. “The reconstruction challenge was endless. And the systems in place to fund the fix were non-existent.” Steve knew there had to be a better way to get people paid. It was that idea which led to the birth of BuildPay.

BuildPay is an online solution designed specifically for the management of construction payments. It brings together funders, homeowners, contractors, and material providers as part of an electronic handshake to get everyone paid on-time to expedite construction projects.

As Mark Frederick, BuildPay’s director of business development, explains, “BuildPay works with any kind of project. Residential or commercial the benefits are the same.” Benefits to using the BuildPay system for retailers are simple:

• Get paid quickly
• No need to extend credit to contractors
• Eliminate credit card transaction fees by utilizing smart cards for contractors and ACH transfers into a merchant account.

Learn more about how BuildPay works to repair the construction payment chain at www.GoBuildPay.com.