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    9 Replies Latest reply on Apr 10, 2008 4:21 PM by MaxAdvance

    i need a minimum $50,000.00 cash line for payroll.

    biosminer Newbie
      I am a mason that is standing next to opportunity.I have been a small contracter for several years.I live in the state of connecticut.Its a small state when looking at the number of mason contracters involved with commercial repairs and historic restorations.As it happens the G.C."s for these types of projects frequently are large commercial roofing contracters.Even though I normally do small jobs for homeowners,on occasion over the years I have done work for the largest commercial roofer here and two of the up and comers.I have also estimated costs for many of these projects.A recent retirement of a well known masonry estimator\contracter has given me an opportunity to bid on many projects.
      I do not have any money as being a chimney repair guy does not pay well.I also have a 2002 personal bankruptcy.
      This however does not mean that I do not have skills and knowledge of my trade.
      There are probably 6 mason companys here that look at this type of work routinely.I have been doing this for years and respected old time experienced managers have watched my estimate reults and are confident in my bidding ability.
      So to that end I am temporarily invited into the bidding club in the world of roofers.Here in connecticut that means that means I have access to a market niche of mayebe 6 to 8 million a year.This is only work generated by the top roofers.Its almost reccesion proof as it involves leaky buildings and for years it has been considered garbage work by masons and to difficult to estimate by contracters.So it still is a niche.
      I am interested in any comments..
        • Re: i need a minimum $50,000.00 cash line for payroll.
          LUCKIEST Guide
          You are a mason that is standing next to opportunity.
          What is the time frame?? Do you have a Business Plan??
          Any investor will want to see a Bus Plan.
          How long do you need the funds?? and how will you pay them back??
          Have you thought about a partner??
          Do you know about SCORE?? SCORE is FREE.
          Good luck, LUCKIEST
            • Re: i need a minimum $50,000.00 cash line for payroll.
              biosminer Newbie
              I know 2 answer the most questions with the same answer.Please expand on score..what they are and where to find them...thankyou
                • Re: i need a minimum $50,000.00 cash line for payroll.
                  LUCKIEST Guide
                  Please expand on score..what they are and where to find them..
                  SCORE "Counselors to America's Small Business" is a nonprofit
                  association dedicated to educating
                  entrepreneurs and the formation,
                  growth and success of small business nationwide.
                  SCORE is a resource
                  partner with the U.S. Small Business Administration (SBA).
                  and also partners with Bank Of America.
                  You can visit a SCORE office or go to SCORE online. (ALL FREE)
                  I am a SCORE E mail counselor as well as personal counselor ( in fact I am
                  counseling in person this morning at our local SCORE office.
                  Happy April Fools Day, LUCKIEST
                  1 of 1 people found this helpful
              • Re: i need a minimum $50,000.00 cash line for payroll.
                dublincpa Scout
                I would guess that gaining confidence will be your biggest obstacle. Financing commercial construction jobs can be a tightrope act. At least here in the Chicago area, there tends to be a lag of 60-90 days between when you lay out money for materials and labor to when you collect on your draws. That assumes that you are putting in timely for your draws. If you get behind on or stricken from a draw that's 90-120 days of cost you are out of pocket. It sounds like the work you do will early in the process. You will have to wait forever and a day to collect your retention where most of your profit is. Your line of credit will likely need to equal 2, 3 even 4 months of top line revenue to stay afloat. If you are stretching to get into bigger jobs you MUST get your estimates right and follow through on change orders. A few small percentage errors can wreak havoc on your cash flow.

                Good luck.
                1 of 1 people found this helpful
                  • Re: i need a minimum $50,000.00 cash line for payroll.
                    biosminer Newbie
                    I must look at jobs from a low of maybe 20k to a high of maybe 250k.these jobs require 4 or 5 men and that puts my costs about 12k per week roughly 10k for payroll,materials are a small percentage.I own most of the equipment and have 2 trucks.I can personally go about 6 weeks bettween draws.As I am not the prime contractor my money comes at the G.C."s discretion.My arrangement is bill bi-weekly..but...I then wait one or two weeks for those payments.So I am basically 30 days.I really can not add a profit margin.I try to pay myself what a mason costs me..Roughly $80.00 per hour on state work and about $50.00 for private commercial.I normally have about 5k on hand and have about 30 k in vendor or credit card lines.This makes the residential world easy as I gross about $2,500.00 per week and get paid every few days.
                    As far as getting estimates right,I have around 30 years experience,I attended trade school,union apprenticeship,Graduated a tech college with a major in accounting.I worked as estimator for 2 commercial companies and also for myself.I also have tested out with an I.Q. that seems to range around 135.That puts me in the top 5 or 6% in the country for apptitude..perhaps?As a mason that should make me Einstein.
                    However all this still just makes an estimate an estimate.Most projects rely on employee productivity and timely payments.The insurance is stay on the job and stay small enough to keep an eye on everyone.Also have enough cash on hand to survive.
                  • Re: i need a minimum $50,000.00 cash line for payroll.
                    biosminer Newbie
                    wow!!! 165 views and no one can say >>heres where you go to get the money?Thats whats wrong with America.
                    I actually experienced this once before..and ended up bankrupt.I told my main banker I was doing 14 times my normal volume and would not succeed without an influx of cash.Of course I was denied.Since all loans were based on the previous years gross then sure enough I went straight into the tanker.That bank alone ate 50k.By the way they had there own bank records to verify my deposits and payroll.
                    Anyway this time I have not taken the work.I just have access to it.
                      • Re: i need a minimum $50,000.00 cash line for payroll.
                        bizconsultant Scout
                        If you can secure the work (and maybe im reading the post wrong, so if I am then my apologies) then why not get the contract in hand and finance against it. Factoring works perfectly for providing immediate working capital. I'm sure there are a few dozen factoring brokers in this community who can help you with that, or you can just look them up in the yellow pages.

                        Just remember: The one real barrier to success isn't the amount of resources you have...but the amount of resourcefulness that you have.

                        Best of luck and I hope that was helpful
                        1 of 1 people found this helpful
                      • Re: i need a minimum $50,000.00 cash line for payroll.
                        tyybbyy Wayfarer

                        We offer unsecured business loans and business lines of credit in 50 states without personal guaranties.Please go to; for more info.
                        • Re: i need a minimum $50,000.00 cash line for payroll.
                          MaxAdvance Wayfarer

                          My name is Solly and i am a financial consultant at a company called MaxAdvance in New York city. We are currently helping several small businesses with our cash advance program. What we do is offer unsecured loans to be used for whatever you desire without collecting a collateral. We won't take compounding intrest, just one set factored rate wich means you can take as long as you need to pay it back without any penalties. CREDIT IS NOT AN ISSUE WITH US. All you need is a credit card terminal. Please feel free to contact me at any time at 1-866-629-4464 Ext:238.

                          Take care and good luck,

                          Solly Mizrahi