CONTRACTOR SUCCESS STORY I
Feature wall for Hensel Phelps home office in Irvine
contract-based finance programs – providing qualified small , minority and women-owned construction businesses with working capital loans on construction projects .
“ We needed working capital to have enough cash flow to float at least four months of labor and materials costs , because public works payment terms are often 60-90 days out , sometimes longer ,” says Beth . “ John reviewed our financials , helped us create a cash flow analysis so that we could see where to focus our efforts in terms of selling and bidding , and gave us a much better understanding of how to become bankable with other lenders .”
John and MWIS colleague Jennifer Elmore also connected them with the PACE Business Development Center , walked them through the lending process , and helped them
SPRING 2023 LA CONTRACTOR CONNECTION - 19