Home | Industries We Serve | Construction Business Loans
Construction Business Loans for GCs, Subs & Specialty Trades
From heavy equipment and project working capital to bonding support and retainage gaps, Eagle Business Loans connects construction companies with lenders who understand how the industry actually works.
Construction Funding Snapshot
$10K–$5M
24–72 hrs
500+
$0
🏗️ GCs · Subcontractors · Specialty Trades
⚡Funding in 24–72 Hours
🔒No Upfront Fees
🚜Heavy Equipment Specialists
📋Retainage & Draw Schedule Solutions
Types of Construction Companies We Fund
Financing for Every Tier
of the Construction Industry
Construction lending is not one-size-fits-all. A general contractor managing a $4M commercial build has fundamentally different capital needs than an electrical subcontractor bidding residential work. Eagle Business Loans funds across the entire contractor hierarchy.
🏢 General Contractors
Project working capital, bonding support, equipment, subcontractor payment timing
GC
⚡Electrical Contractors
Materials, wire, panels, crew payroll, licensing, vehicle fleet
Electrical
🔧 Plumbing Contractors
Pipe, fixtures, tools, service trucks, new crew onboarding
Plumbing
❄️ HVAC Contractors
Equipment, refrigerant inventory, service vans, seasonal capital
HVAC / Mechanical
🪟 Framing & Drywall
Materials, crew hiring, tools, cash flow between draw requests
Framing / Drywall
🪣 Painting & Finishing
Materials, scaffolding, crew payroll, vehicle wrap, marketing
Painting / Finishing
🏗️ Excavation & Site Work
Excavators, bulldozers, dump trucks, fuel, crew payroll, bonding
Excavation / Grading
🏠 Residential Builders & Remodelers
Materials, permits, subcontractors, working capital between draws
Residential / Reno
Don’t see your trade listed? Contact us — if you hold a valid contractor’s license and generate consistent revenue, funding options almost certainly exist for your business.
The Retainage Problem — Construction’s Built-In Cash Flow Gap
Most commercial construction contracts include a retainage clause — typically 5–10% of every invoice withheld until project completion or substantial completion sign-off. On a $500,000 project, that’s $25,000–$50,000 tied up for the life of the job. Multiply that across several active projects and a construction company can have $100,000+ in earned-but-withheld revenue at any moment.
Eagle Business Loans works with lenders who understand retainage, draw schedules, and the payment timing realities of construction — and who won’t penalize contractors for industry-standard billing structures.
5–10%
30-90
24 hrs
Why Construction Companies Need Specialized Financing
Four Capital Challenges Unique
to the Construction Industry
Construction companies manage some of the most complex cash flow dynamics of any industry — upfront material costs, slow payment cycles, equipment demands, and compliance costs that most lenders simply don’t understand.
💸 Front-Loaded Costs, Back-Loaded Revenue
Construction companies spend money before they earn it. Materials, labor, equipment rental, and permits must be paid upfront — weeks or months before draw requests are submitted and approved by owners or GCs. This gap is structural, not a sign of a struggling company.
🚜 High-Cost Equipment Requirements
A single excavator runs $80,000–$400,000. A concrete pump truck costs $150,000–$600,000. Even a basic work truck and trailer package is $60,000–$120,000. Contractors who can’t access equipment financing either rent at high ongoing cost or lose bids to better-equipped competitors.
📝 Bonding, Insurance & Licensing Costs
Performance bonds, payment bonds, builder’s risk insurance, general liability, workers’ comp, and contractor licensing fees all require significant upfront capital — often before a project ever begins. These costs don’t generate revenue; they’re the price of admission to commercial work.
📈 Growth Requires Bidding More Work
To grow, a contractor must bid — and win — more projects. But taking on additional projects before existing ones pay out requires working capital most companies don’t have sitting idle. Fast-access capital allows contractors to scale without turning down profitable work.
Funding Programs
Construction Loan Options
Through Our Lending Network
Construction companies have some of the most specific — and most urgent — capital needs of any industry. Eagle Business Loans matches contractors to the right program based on what they need funding for, how fast, and what their current financial profile looks like.
🚜 Construction Equipment Financing
Secured · Most Requested
Finance excavators, bulldozers, skid steers, concrete equipment, cranes, dump trucks, trailers, forklifts, and any heavy construction asset. The equipment serves as collateral — making approval more accessible than unsecured programs even for contractors with challenged credit.
| Loan Amount | $10,000 – $2,000,000 |
| Collateral | Equipment / vehicle |
| Funding Speed | 3–7 business days |
| Min. Credit Score | 500+ |
| New & Used | Both accepted |
💼 Project Working Capital
Unsecured · Fast
Immediate cash to fund material purchases, payroll, subcontractor payments, and other project costs while waiting on draw approvals or GC payment. No collateral required — approval based on revenue and business history.
| Loan Amount | $10,000 – $500,000 |
| Collateral | None required |
| Funding Speed | 24–48 hours |
| Min. Credit Score | 500+ |
| Repayment | Daily / weekly ACH |
🔄 Business Line of Credit
Revolving · Flexible
A revolving credit line you draw from as needed across multiple projects — pay interest only on what you use. Ideal for contractors managing multiple simultaneous jobs with staggered draw schedules and payment timing.
| Credit Limit | $10,000 – $500,000 |
| Collateral | Varies by program |
| Funding Speed | 48–72 hours |
| Min. Credit Score | 580+ |
| Repayment | Draw and repay as needed |
📄 Invoice Factoring for Contractors
Not a Loan · Receivables
Sell outstanding construction invoices — including draw requests submitted to GCs or owners — for immediate cash. Particularly valuable for subcontractors waiting on GC payment. Approval is based on the paying party’s creditworthiness, not yours.
| Advance Rate | 70–90% of invoice value |
| Collateral | Invoice only |
| Funding Speed | 24 hours |
| Min. Credit Score | None — GC/owner credit |
| Fee | 1–5% per invoice |
💳 Merchant Cash Advance
Unsecured · Revenue-Based
An advance against future revenue, repaid as a percentage of daily deposits. Works well for contractors with high card or ACH deposit volume who need capital fast and have flexible cash flow during active project periods.
| Advance Amount | $10,000 – $500,000 |
| Collateral | None required |
| Funding Speed | 24–48 hours |
| Min. Credit Score | 500+ |
| Repayment | % of daily receipts |
🏛️ SBA Loans for Contractors
Secured · Best Rates
Government-backed SBA 7(a) and 504 loans offer the lowest rates and longest terms for established construction companies — ideal for major equipment acquisitions, real estate purchases, business acquisitions, or large expansion capital needs.
| Loan Amount | $50,000 – $5,000,000 |
| Collateral | Required |
| Funding Speed | 3–8 weeks |
| Min. Credit Score | 640+ |
| Terms | Up to 25 years |
Equipment Cost Reference
What Construction Equipment Actually Costs — And What You Can Finance
Not every restaurant funding need is the same. Eagle Business Loans matches your specific situation to the right loan product — whether you need cash tomorrow or capital for a major build-out.
🚜 Excavators
$80K – $400K
Mini excavators (1–6 ton) on the low end; full-size crawler excavators (20–50 ton) on the upper end. Used equipment with 2,000–5,000 hrs typically runs 40–60% of new cost.
Equipment Financing
🏗️ Skid Steers & Track Loaders
$40K – $120K
Compact track loaders (CTLs) and skid steers are the workhorse of residential and commercial site work. Used units in good condition typically $25K–$65K.
Equipment Financing
🚛 Dump Trucks
$60K – $200K
Single-axle dumps start around $60K new. Tri-axle and quad-axle dump trucks run $120K–$200K new. Well-maintained used units $35K–$110K.
Equipment / Vehicle Financing
🏋️ Cranes & Lifts
$100K – $800K
Rough terrain cranes, boom lifts, and scissor lifts. Many contractors finance and rent out, or use across multiple commercial projects to justify the capital outlay.
Equipment Financing
🛻 Work Trucks & Service Vans
$35K – $90K
F-250/F-350 and Ram 2500/3500 work trucks. Sprinter and Transit service vans. Flatbed and stake-body trucks. New full-size pickup with upfit typically $55K–$75K.
Vehicle Financing
🔩 Specialty Trade Equipment
$5K – $150K
Concrete mixers and pumps, trenchers, directional drills, pipe fusion equipment, welding rigs, aerial lifts, and trade-specific tools. Most specialty equipment qualifies for asset-based financing.
Equipment Financing
Real World Examples
Construction Funding Scenarios:
Three NC Contractors Who Got Funded
Three situations Eagle Business Loans regularly helps North Carolina construction companies navigate — from equipment purchases to draw-cycle gaps to subcontractor payment timing.
🏗️ Excavation · Jacksonville, NC
Excavation Contractor Finances a Used Excavator to Win a Major Site Contract
A Jacksonville excavation contractor won a $380,000 site preparation contract but needed a second excavator to complete the job on schedule. His credit had taken hits during a slow year. Equipment financing using the machine as collateral made the deal work.
| Business Type | Excavation / Site Work |
| Equipment | CAT 320 Excavator (used) |
| Funding Type | Construction Equipment Financing |
| Amount Financed | $118,000 |
| Credit Score | 538 |
| Time to Funding | 6 business days |
⚡ Electrical Sub · Raleigh, NC
Electrical Subcontractor Bridges a 45-Day GC Payment Delay on a Commercial Job
A Raleigh electrical subcontractor had $140,000 in approved draw requests outstanding from a GC that was behind on payments due to owner disputes. With crew payroll and material supplier invoices coming due, they needed a bridge fast — without taking on more debt than necessary.
| Business Type | Electrical Subcontractor |
| Monthly Revenue | $85,000 |
| Funding Type | Invoice Factoring |
| Amount Advanced | $112,000 (80% of $140K) |
| Credit Score | 571 |
| Time to Funding | 24 hours |
🏠 General Contractor · Wilmington, NC
GC Funds Pre-Construction Material Purchases Before First Draw Request
A Wilmington residential GC won a $620,000 custom home contract. The draw schedule didn’t release funds until framing was complete — but lumber, foundation materials, and permit fees were due immediately at contract execution. He needed $95,000 before the first dollar came in.
| Business Type | Residential General Contractor |
| Contract Value | $620,000 |
| Funding Type | Project Working Capital Loan |
| Amount Funded | $95,000 |
| Credit Score | 604 |
| Time to Funding | 48 hours |
Bonding, Insurance & Licensing — The Hidden Capital Costs of Construction
Every contractor who wants access to commercial and government work faces a wall of upfront compliance costs before a single shovel hits the ground. These costs are real, significant, and non-negotiable — and they arrive before any revenue is generated by the project they’re required for.
Eagle Business Loans works with lenders who fund bonding premiums, insurance deposits, and licensing fees as part of broader working capital programs. These costs don’t have to be a barrier to bidding larger, more profitable work.
Performance & Payment Bonds
Required on most government and many commercial contracts. Bond premiums typically run 1–3% of contract value — $10,000–$30,000 on a $1M project — due before work begins.
Builder’s Risk & General Liability
Minimum coverage requirements vary by contract. Annual premiums range from $3,000 for small residential contractors to $50,000+ for commercial GCs. Often required before permit issuance.
Contractor Licensing & Permitting
NC General Contractor License (limited, intermediate, or unlimited) has exam fees, application fees, and continuing education costs. Major specialty licenses (electrical, plumbing, HVAC) each carry separate costs.
Workers’ Compensation Insurance
Mandatory in NC for construction companies with 3+ employees. Premiums are based on payroll and job classification. New companies often face higher rates until their experience modifier improves.
HOW TO QUALIFY
What Construction Companies Need
to Qualify for Funding
Typical Qualification Requirements
📅 Time in Business
Most working capital and MCA programs require 6 months of operating history. Equipment financing accepts businesses as new as 3–6 months when the asset serves as collateral. Established companies (2+ years) access lines of credit and SBA loans with the most favorable terms. New contractors purchasing their first piece of major equipment can often qualify based on the equipment value alone.
💰 Monthly Revenue
Working capital and MCA programs typically require $10,000–$15,000 in monthly gross revenue. Lines of credit require $15,000+ monthly. For project-based contractors, lenders evaluate monthly bank deposits — not just invoiced amounts — so ensure your business account reflects actual collections. Invoice factoring has no revenue minimum; it evaluates invoice value and the paying party’s creditworthiness.
📊 Credit Score
Equipment financing accepts scores from 500 when the asset secures the loan. Working capital and MCAs accept 500+. Lines of credit require 580+. SBA loans require 640+. Invoice factoring has no minimum credit score requirement. Construction-specific lenders in our network understand that credit can fluctuate during slow periods — a score in the 550–600 range is often workable for equipment and working capital programs.
🏦 Business Bank Account
An active business checking account with 3–6 months of statements. Project-based deposit patterns — large irregular deposits followed by weeks of smaller activity — are understood by construction-focused lenders. Avoid NSF fees and negative balances in the months preceding your application.
An active, unrestricted general contractor or trade contractor’s license significantly strengthens applications and is required for some programs. In North Carolina, the NC Licensing Board for General Contractors issues limited, intermediate, and unlimited licenses based on project size. Specialty trade licenses (electrical, plumbing, HVAC, low voltage) are separately issued.
Documents You’ll Typically Need
- 3–6 months business bank statements
- Government-issued ID (owner)
- Voided business check
- Business EIN / Tax ID
- Active contractor’s license copy
- Equipment quote or invoice (equipment financing)
- Signed contracts or LOIs (large project loans)
- Outstanding invoices / draw requests (factoring)
- 2 years business tax returns (SBA loans)
Most programs begin with bank statements and ID only. Additional documents are requested during underwriting based on program type and loan size.
Start My Construction Loan Application
Pre-qualification does not affect your credit score
Why Construction Companies Struggle to Get Bank Financing
Traditional banks evaluate construction companies the same way they evaluate any small business — monthly revenue consistency, collateral, and debt-to-income ratios. The problem is that construction doesn’t work that way. Revenue is project-based and lumpy. Collateral is often equipment that depreciates and is difficult for a bank to value or repossess. And the biggest indicator of a healthy construction company — a full pipeline of signed contracts — is an intangible asset a bank loan officer doesn’t know how to underwrite.
The construction-focused lenders in Eagle Business Loans’ network have built their underwriting models around the actual dynamics of the industry. They understand draw schedules, retainage, project-based revenue cycles, and the difference between a contractor who is strategically managing cash flow and one who is genuinely struggling. That distinction matters enormously — and it’s why contractors who have been declined by their bank often find approval through Eagle Business Loans’ network.
Subcontractor Financing — Getting Paid Faster Than Your GC Pays
The most acute cash flow problem in construction belongs to subcontractors, who are effectively financing the general contractor’s operations. A sub completes work, submits a draw request to the GC, and then waits — 30, 45, sometimes 60 days — for payment while their own crew expects a paycheck every two weeks and their material suppliers expect net-30 payment. This is not a cash management failure; it is the structural reality of subcontracting.
Invoice factoring is the most direct solution to the subcontractor payment gap. By selling outstanding draw requests to a factoring company, a sub receives 70–90% of the invoice value within 24 hours — without taking on additional debt and without the approval process depending on their own credit score. Approval is based on the GC’s or owner’s ability to pay the invoice. For electrical, plumbing, framing, HVAC, and other specialty subs, factoring can be transformative. See our Invoice Factoring page for full details on how this program works.
Construction Equipment Financing in North Carolina
North Carolina’s construction market is one of the most active in the Southeast, driven by population growth in the Research Triangle, Charlotte metro expansion, and coastal development along the Cape Fear and Crystal Coast corridors. Contractors who can’t access equipment financing either rent at ongoing cost — often $3,000–$8,000 per month for a single excavator — or decline bids they could otherwise win.
Eagle Business Loans has helped NC contractors finance excavators, compact track loaders, dump trucks, concrete equipment, cranes, and specialty trade equipment. Equipment financing terms typically run 3–7 years, with down payments as low as 10% and credit score requirements starting at 500 for asset-secured deals. Both new and used equipment qualify — and for used equipment, the key is an independent appraisal or dealer quote that supports the financing amount.
GC vs. Subcontractor Funding — Different Needs, Different Programs
General contractors and subcontractors have fundamentally different capital needs, and the right funding program differs accordingly. A GC managing a $2M commercial build needs working capital to front material costs and pay subs before owner draws are released — and may need a line of credit that works across multiple projects simultaneously. A subcontractor needs faster access to the money already owed to them by the GC — which makes invoice factoring or a working capital bridge the right tool.
Specialty trades contractors — electrical, plumbing, HVAC — often have a mix of both needs: equipment financing for their fleet and tools, working capital for materials on new projects, and invoice factoring for outstanding draws on completed work. Eagle Business Loans takes a whole-picture approach to matching construction companies with the right combination of programs, rather than defaulting to a single product for every situation.
Ready to Apply?
Get My Construction Funding Options
NORTH CAROLINA FOCUS
Construction Loans Across North Carolina’s Active Building Markets
North Carolina is one of the fastest-growing construction markets in the country. The Research Triangle’s tech-driven residential and commercial boom, Charlotte’s rapid suburban expansion, and the ongoing coastal development from Wilmington to the Outer Banks are creating sustained demand for every tier of contractor — GCs, specialty subs, and heavy equipment operators alike.
Eagle Business Loans, headquartered in Morehead City, actively works with construction companies across all of North Carolina’s major building markets. We understand the regional nuances — from the military construction demand near Jacksonville and Camp Lejeune to the storm recovery and coastal build work along the Crystal Coast, to the large-scale commercial and infrastructure projects around Raleigh and Charlotte.
Types of Construction Companies We Fund
✓ General contractors (residential & commercial)
✓ Electrical contractors & subcontractors
✓ Plumbing contractors & subcontractors
✓ HVAC & mechanical contractors
✓ Framing & structural contractors
✓ Drywall, insulation & finishing
✓ Painting contractors (interior & exterior)
✓ Excavation & site preparation
✓ Concrete & masonry
✓ Roofing contractors
✓ Flooring & tile contractors
✓ Landscaping & hardscaping
✓ Custom home builders
✓ Remodeling & renovation contractors
✓ Storm damage & restoration contractors
Real Businesses. Real Funding.
Frequently Asked Questions
Can a construction company get a loan with lumpy, project-based revenue?
Yes. Construction-focused lenders understand that project-based revenue means irregular monthly deposits — large inflows followed by slower periods between contracts. They evaluate trailing 3–12 month bank deposit averages and your project pipeline, not just the most recent month's revenue. Being upfront about your project cycle helps underwriters contextualize your statements.
What is the best funding option for a subcontractor waiting on GC payment?
Invoice factoring is typically the most efficient solution. You sell your outstanding draw requests — submitted to and approved by the GC — to a factoring company and receive 70–90% of their face value within 24 hours. There's no debt added to your balance sheet, no credit score requirement, and the fee (1–5% of the invoice) is often less costly than the operational impact of waiting 45–60 days for payment. See our Invoice Factoring page for full details.
Can I finance used construction equipment?
Yes. Both new and used construction equipment qualify for equipment financing. For used equipment, lenders typically require an independent appraisal or a dealer quote that supports the financing amount. Equipment with active hours logged, existing maintenance records, and current registration generally qualifies at 80–90% of appraised value. Very old or heavily worn equipment may be harder to finance.
Can I use a construction loan to cover bonding costs?
Yes. Working capital loans and lines of credit are unrestricted — funds can be used for performance bond premiums, payment bond premiums, insurance deposits, licensing fees, and any other legitimate business expense. Many contractors use working capital specifically to fund bonding so they can qualify for larger, more profitable commercial and government contracts.
My credit score is around 540 — can I still get construction financing?
Possibly, yes. Equipment financing accepts credit scores as low as 500 when the purchased asset serves as collateral. Working capital loans and MCAs also accept 500+ with strong revenue. The key factors for lower-credit applicants are consistent bank deposits ($10,000+ monthly), 6+ months in business, an active contractor's license, and a clean bank account with no NSF fees. Lines of credit and SBA loans require 580+ and 640+ respectively.
Can a new contracting company (under 1 year) get funded?
In some cases, yes. Equipment financing using the purchased asset as collateral is the most accessible program for newer companies. A new company purchasing a $100,000 excavator can often qualify based primarily on the equipment value and a small down payment, even with limited operating history. Working capital programs typically require 6 months in business. Contact us if your company is newer — we'll tell you honestly what's available given your specific situation.
How does draw schedule financing work?
Draw schedule financing (often structured as a working capital loan or line of credit) provides funds to cover project costs during the period between milestones on a construction draw schedule. Rather than waiting for the owner or GC to release a draw, a contractor draws on their working capital facility to purchase materials and pay labor, then repays when the project draw is received. Lines of credit work particularly well for this use since funds can be drawn and repaid repeatedly across multiple project phases.
Does Eagle Business Loans charge upfront fees?
Never. Eagle Business Loans is an ISO (Independent Sales Organization) compensated by our lending partners when a transaction closes. There are no application, consulting, or processing fees charged to contractors before funding is received. Any broker or lender asking for money upfront before approving or funding a construction loan is a serious red flag — see our scam warning page for red flags to watch for.
Related Pages for Construction Companies
Invoice Factoring
Invoice Factoring for Contractors & Subs
Convert outstanding draw requests and invoices to cash in 24 hours. No debt, no credit score requirement — approval is based on the GC's or owner's creditworthiness.
All Programs
All Business Funding Programs
Compare equipment financing, working capital, lines of credit, MCAs, invoice factoring, and SBA loans side by side.
Qualification
Business Loan Requirements
Credit scores, revenue minimums, time-in-business thresholds, and documentation requirements across all programs.
Related Industry
Trucking & Transportation Loans
Many construction companies operate dump trucks and equipment haulers. See our dedicated trucking and vehicle financing page.
All Industries
All Industries We Serve
Funding options for restaurants, trucking, medical practices, service businesses, and retail companies across North Carolina.
Stay Safe
Avoid Business Funding Scams
Contractors are common targets of fake grant programs and advance-fee lending scams. Know the red flags before applying anywhere.
Ready to Fund Your Construction Company?
Get matched with construction-specialist lenders from our verified network. Equipment, working capital, invoice factoring — no upfront fees, no obligation, funding in as little as 24 hours.
Eagle Business Loans
Eagle Business Loans is a licensed Independent Sales Organization (ISO) connecting small businesses with a verified nationwide network of lenders. We do not lend directly. Compensation is received from lending partners upon funding.
