CONTRACTOR SUCCESS STORY II
Swinerton Builders on a major affordable housing project at
921 Howard Street ; the project started in January 2022 and is a collaboration between the Mayor ’ s Office of Housing and Community Development ( MOHCD ) and Tenderloin Neighborhood Development Corporation ( TNDC ) – a nonprofit which builds and maintains Single Room Occupancy ( SRO ) hotels and affordable housing throughout the City of San Francisco .
Nicole Burgess , COO , Harris Hoisting , Inc .
and the City and County of San Francisco ’ s
Contract Monitoring Division and Contractor Development Program as essential sources of guidance , education and support for small contractors . “ You never really just ‘ get it ,’ so I have tried to immerse myself in as many classes and as much one-on-one mentoring as possible . I can always improve .”
Since enrolling in the Contractor Development Program ( CDP ) in 2019 , Tana and Nicole have received individualized assistance in several key areas , such as creating a business model for long-term sustainability and profitability , training in cash flow projection , reviewing contracts , business networking , and becoming bondable . With encouragement , Tana got her business logo updated , and a company website and business cards created . The CDP provided Harris Hoisting with a subsidy for accounting training and QuickBooks set up , assisted in obtaining bonding and most recently , is helping the company qualify for a loan through the Contractor Accelerated Payment Program ( CAPP ).
Harris Hoisting will be putting the CAPP loan to use to fund their expenses while working with
Because of the size of this project , Tana strategically applied for the CAPP loan to help ensure that her company would have enough working capital . “ I ’ ve never worked as a first-tier contractor before and thought we might run into costs that we hadn ’ t anticipated , because sometimes you don ’ t know what you don ’ t know . I wanted to make sure that my second tier and materials would get paid ,” she explains , “ Not having the capital to fund a project is a real barrier to public works for many small contractors , because they can ’ t afford to go 60-90 days without being paid . That ’ s where a CAPP loan is so helpful , because it takes the stress out by providing the cash flow for large expenditures – such as materials costs and union payroll and benefits
Wynton , Elevator Operator , Harris Hoisting , Inc .
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