Lendio Success Story: Gregg Griffin of Griffin Construction
Read how we helped Gregg Griffin get a small business loan so he could expand his construction business.
Gregg Griffin had been doing construction for a long time when he started his construction company. In fact, it was his son that convinced him to join him in starting their own company. “My son had started with his own company doing bathroom remodels. After a while, we decided to start a company in my name, as partners.” Griffin Construction was born.
One of the best parts about doing construction in Texas is there’s not a lot of licencing needed for general remodeling. Using his personal credit and some savings, Gregg started bidding on construction jobs. “It’s quite common for people to get 40 to 50 percent down on construction projects, and that really helped us starting out, having the customers finance their own projects.”
Gregg’s continued passion for remodeling homes has helped his business grow. “The best thing I get to do is walk into someone’s house, which might not be very nice, walls, floors, paints, kitchen and walking out when it’s finished and seeing the difference we’ve made. People light up when they see the finished product.” His business has become so successful, that he has started getting bigger and bigger construction contracts. “There’s a lot of these bigger jobs out there that require the construction company to front the costs, and I’ve been using my personal credit. So we started looking for a loan.”
Gregg’s first experience with a lender wasn’t great. “They kept saying they had what they needed and they would find me a loan. Next thing I knew, I had 15 inquiries on my credit, with no financing.” After that, Gregg came to Lendio. “I talked with David Brown and the world was completely difference. He did everything he said he would do in a timely fashion, I would absolutely recommend him to a friend.” Lendio was able to help Gregg get the small business loan his construction company needed to grow.
When asked for any advice he has for fellow entrepreneurs, Gregg said “Take your time and grow your business slowly and steadily. You don’t want to turn any jobs down, but growing too quickly can really strain the purse strings.”
For more on Griffin Construction, you can visit their Facebook page.
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