Contractors and subcontractors, in the consumer market Billd products would be called predatory lending. The offer presented by Billd was at 48.61% APR for Accounts Receivable backed funding (this is funding secured by government invoices. i.e 100% chance of payment in 45-60 days.) Companies like Billd are a primary reason for the bankrupting of small businesses. Beware that to make a project profitable only on the gross profit (not accounting overhead and other expenses) the project must have over 50% markup. Yes, this is loansharking or predatory lending at best.
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Tackling one of the biggest pain points in the construction industry, Billd offers commercial subcontractors financing terms that finally align with their payment cycles. Supply chain finance has long been broken in construction, leaving contractors footing the bill for materials and labor far before they're paid for their work. With a flagship product that offers 120-day terms on material purchases, subcontractors can now improve their cash flow to take on larger projects, finish projects faster, and grow their business.See more
