Feb 8th 2018 – The construction industry would move mountains to get paid (literally, take a look at Dodger Stadium in LA). And with $1.23 trillion spent on new construction last year in the US, we don’t blame you. There’s a lot of money to be made moving mountains.
But like many good ideas, there’s a catch. You’re going to have to climb the mountain to get paid for moving the mountain. And the lower you are in the project payment chain, the longer and steeper the climb gets. Every layer between you and the funding source makes the expedition more treacherous. Each one adds more risk, less control, and less visibility into your payment – “everyone is holding the money longer” we hear daily. Prices inflate. The project slows down (which costs money), someone ahead of you files a lien (which costs money), and now everyone is trudging up this giant payment mountain that was supposed to be moved out of the way!
No more. BuildPay’s technology was built to hardwire the payment circuits in construction. Project money is placed in escrow and every project player is tied directly to their payment. As long as you do the work and can get it approved, you get paid. No more lengthy accounts receivable, no more extending trade credit, no more paying to get paid and no changing the rules. And for project owners and construction funders, you get the cost-savings benefits of bids without risk, without long receivables and without inferior material pricing. Your project funds can go further, faster!
We sure admire the grit it takes to climb mountains, but when it’s this easy to get paid – why climb? Let’s get to work. #GotPaid