Contractor Business Loans

Faster, easier small business financing with one simple application—no bank needed.

Applying is free and won’t impact your credit.

Reviews from general contractor business owners.

Maria Torres

JULY 4, 2022

I am the owner of a small house…

I am the owner of a small house renovation business. My cash flow is limited, when looking for business loans I came across Lendio. I worked with Craig Burton on my application. Craig informed me of the process, was extremely patient with me as I had to figure out my options. He walked step by step with me until the funding of my application. I will recommend this company 100%.

James Black

APRIL 20, 2021

As a construction worker and small time…

As a construction worker and small time contractor I know the hardship of the Covid pandemic. The stress can be thru the roof. Lendio basically did all the work and it was a stressful process made very easy and pleasurable by their agent. I seriously couldn’t have asked for a better group of professionals to guide me through this process. Thank you so much.


MAY 6, 2020

Best ever!

Omg! Incredible! I found the application confusing because I am an independent contractor. Nichole Jack was amazing at helping me and 3 of my friends get through this process. She answered the phone, texted, and called me faster than my friends and family! I probably went back and forth with her for a few hours. I would’ve been out the thousands of dollars I need if it weren’t for her.

Lendio knows general contractor small businesses.

Whether you’re looking to hire subcontractors or purchase materials in bulk to fight against inflation, Lendio is here to help. We understand both the challenges your business faces, as well as the opportunities available to grow with such large demand from customers.

No matter how large or small your contractor business may be, getting the right type of funding makes a huge difference in how you grow. From short-term financing to long-term contractor loans, you’ll find a wide range of options through Lendio.

Ready to expand your contractor business in a way that’s sustainable? Get the small business loan resources you need from Lendio.

Why Lendio?

Quick funding times

Not only does Lendio’s application take 15 minutes or less, we’re also committed to helping you get funds in the bank as quickly as possible. In fact, once you choose your ideal offer, you could have money in your business bank account within 24 hours.

Ongoing personalized support

Getting a contractor loan is a major financial decision, and you don’t have to figure it out alone. Your dedicated funding manager gets to know your business to help you evaluate all of your available options.

Expansive lender network

With over 75 lenders in the Lendio network, one application gets you access to a host of potential options. Once you’ve submitted your online form, you can then pick and choose the option that is the most attractive for your contracting company’s needs.

How our loan matching process works.


Fill out our simple application.

Answer just a few questions about your business to see which lending products you qualify for. We’ve partnered with over 75 lenders, allowing us to find the best option or your business.


We’ll connect you with a funding specialist.

One of our funding specialists will reach out to you to get to know your business better. Since every business is unique, we want to make sure we find the loan type that’s perfect for your needs.


Compare loan offers.

Compare different offers curated for your business. Select the capital amount and rate that will help take your business to the next level.


Get funded.

We work with lenders that can fund you fast. Once you’re approved, you’ll be able to access your capital in as little as 24 hours.

Types of business loans for contractors.

Asset- or revenue-based financing

If you’re constantly waiting for clients to pay invoices, asset-based financing could be an option to get cash fast. A funder purchases an invoice from the borrower at a discounted rate, which the business will then pay back to the funder as the business collects on the invoice. Revenue-based financing gives you a cash advance on expected future revenue.


1-15 months

$1 million (RBF); $50 million (asset-based financing)

Debt financing

Debt financing makes it easier to navigate the repayment process. Your monthly payment is a fixed amount, so you can easily make it part of your regular cash flow. You also know exactly when the loan will be paid off in full so you can plan your next stage of growth. Opt for either a term loan or an SBA loan backed by the government.


6 months-25 years

$5 million

Line of credit

A line of credit like a credit card in that you draw funds to make purchases, up to a certain limit. But interest accrues only on your outstanding balance, making it a great option for contractors who have rolling costs as projects begin and end.


6-24 months

Up to $250,000

Equipment financing

If you need to use your own heavy equipment, an equipment financing loan can help you purchase the construction equipment you need. If you opt for leasing, the equipment itself will serve as collateral, so you won’t have to put up other business or personal collateral.


1-5 years

$5 million

Where can I find contractor business loans?


The traditional go-to for many business owners in search of funding is their local bank. These institutions have a history of lending money, and for many, it feels like a logical first step. However, bank loans often involve lengthy application processes and can be stringent when it comes to approval, particularly for newer businesses or those without a solid credit history. This can make it challenging for some construction companies to qualify.

Credit unions

Similar to banks, credit unions offer loans to businesses. However, they might have a more community-focused approach, potentially making them more receptive to local construction companies. Their rates can be competitive, and they may offer more personalized service. However, like banks, credit union loans can take time to get approved, and rates can vary greatly depending on the credit history of your business. 

Online lenders

In the digital age, online lenders have grown in popularity, providing a viable alternative to traditional banking avenues. These platforms have streamlined application processes, so they can be completed entirely from the comfort of one’s computer or mobile device. The primary advantage they offer is the speed of approval. Many online lenders can evaluate your application and provide a decision within a matter of days, making them a suitable choice for construction businesses in urgent need of funds.

SBA loan guarantee program

The Small Business Administration (SBA) offers a loan guarantee program that can be particularly beneficial for construction businesses. Instead of lending money directly, the SBA guarantees loans made by partnering banks or credit unions. This guarantee can make it easier for borrowers to obtain favorable rates and terms. On the flip side, the SBA’s criteria for approval can be stringent. They often require a robust business plan, good credit, and a track record of success. But for those who qualify, it can be an excellent financing option.


Contractors can apply for a variety of business loans to help their company, whether you need to even out cash flow, invest in new equipment, or expand your operations.


Acquiring any type of loan to launch a business can take considerable time and planning, so it’s best to prepare a detailed business plan, prepare financial statements, improve your credit score, and research loan options to determine what is best for you.


Lendio has just a few base requirements in order to apply for a loan for your general contracting business: 

  • A credit score minimum of 600 
  • Monthly revenue of $8,000 or more
  • Time in business of at least six months


A business loan can be used for just about anything. You can use funds for working capital, hiring, marketing, purchasing materials, or nearly anything else to help manage and grow your business. Equipment financing, however, is limited to the purchase of approved equipment.

The best loan for contractors really depends on your circumstances and financial goals. If you need to improve your cash flow, especially if you consistently wait for clients to pay invoices, an asset- or revenue-based financing loan may be best for you. Another great option for contractors is equipment financing, especially if you plan on purchasing your own heavy machinery in the near future. In this instance, you can use the equipment itself as collateral.

Obtaining a contractor loan with bad credit can be challenging, but it’s not impossible. Online lenders and alternative financing companies might have more flexible criteria than traditional banks. Consider offering collateral to secure the loan. This can provide lenders with added assurance and might increase the chances of loan approval. You may also consider finding a co-signer with good credit to work with you. The co-signer essentially guarantees the loan, making lenders more willing to approve.

A lender marketplace, like Lendio, connects you with multiple lenders with a single application, saving you the time and hassle of reaching out to them individually. In addition, a funding manager will guide you through the application and funding process.

An SBA is a federally guaranteed business loan made through private lenders and banks. There are different programs with specific borrower requirements, but in general, you can count on competitive rates. You can also count on a rigorous application process, a prolonged approval process, and long funding times. 

Most contractor business owners choose one of three SBA loans. The 7(a) program is the most commonly used option for working capital. You can borrow up to $5 million over 10 to 30 years. The 504 program is built for purchasing a major asset, like equipment or real estate. It also comes with high loan maximums and long repayment terms. Finally, a microloan allows smaller businesses to borrow up to $50,000.

8 out of 10 Lendio employees* or their families own a small business.

*based on 136 Lendio employees who responded to an internal poll

Quickly Compare Financing Options from Multiple Funders

Applying is free and won’t impact your credit

Talk to a rep at (855) 853-6346
Mon-Fri 7:30am-5pm MST