Roofing business loans

Deadlines matter for your roofing business and you need funding now whether you’re waiting on a check from the insurance adjuster or need materials for a massive commercial job. Small business loans for roofing companies make sure cash flow gaps don’t slow you down when ladders need replacing, siding needs to be stocked, or a work truck breaks down.

SmallBusinessLoans makes it easy to find the right lender with customized solutions for roofing businesses. You can fund payroll during weather delays, purchase safety harnesses and scaffolding, or even lease a new crane with the funds. We make it fast and easy for you to get the financing you need for your roofing business by matching you with options, instantly.

Residential roofers may need new nail guns and air compressors while commercial contractors need capital to float materials for 90 days while waiting on a net-payment term. This is where the different types of roofing business loans available through our marketplace can help.

Short-term business loans

Short-term business loans can fund crew payroll during weather delays, materials you need to get a job going, or advertising to get new customers. Any immediate and short-term expense can be covered as long as the financing is used for business purposes.

Working capital loans

Working capital loans can cover almost any operating expense, from payroll to pry bars, inventory, and insurance premiums. If the cash is being used to keep your business running (including rent or utilities, room and board for long-distance projects, or new staff), working capital business loans are a viable option.

Equipment financing loans

Equipment financing loans can be used for new or used equipment (cranes, hoists, forklifts, etc.) and buying or leasing vehicles. Best of all, the equipment can normally be used as collateral, helping to keep your assets free.

Small business loans help you overcome weather delays that stall projects, insurance adjusters who take months to pay out, and material prices that fluctuate weekly. At SBL, we match you with financial partners who understand your industry and can fund you fast. Here are some of the problems our partners can help you solve. 

Equipment failures

Whether it’s a blown transmission on a dump truck, a compressor that dies mid-job, or a broken metal brake, you need cash fast to make repairs and keep your operations moving even when your tools take a beating.

Weather delays

Rain might shut operations down for a week, but your crew still needs to cover their bills. Financing for roofing companies makes sure you keep your best workers from jumping to another crew.

Insurance issues

Waiting for an adjuster to redo a low-ball estimate or dealing with high premiums that are saddling the roofing industry can hit cash flow right when you need to start a new job. Loans from our network of lenders give you the funding you need so that you’re not passing on work.

Surging material prices

When plywood prices or asphalt shingle costs start to spike, you need capital to lock in rates before they eat into your margin.

Covering payroll

Keep your best crew members paid on time even if insurance payouts are taking too long or weather delays stop work for a week.

No matter what the financial constraint is, we have a solution with our network of trusted financial partners. Click here to fill out our quick form and you’ll be matched with a provider that knows the ins-and-outs of roofing companies, so you can get the financing your roofing business needs.

There are many ways a small business loan can help grow your roofing company:

• Hiring new employees or independent contractors.
• Covering unexpected expenses, such as repairs from emergencies.
• Purchasing new equipment, tools, and technology.
• Renovating or expanding your business facilities.
• Investing in marketing to reach new customers.
• Acquiring a new business or merging with another roofing company.

No matter what you need to grow your roofing business, SmallBusinessLoans will match you with partners who can customize a solution for your needs.

A blown transmission in your delivery truck or a new commercial job where you need to buy a crane are obvious signs, but others are more subtle. For example, you could have the opportunity to bid on a massive municipal project or take over a job where the previous contractor went bust, but you’d need more funds for the opportunity than you can cover. Other signs include:

• You’re turning down bids because you can’t afford the upfront material costs.
• You’re stretching credit terms with your supply house and risking your account status.
• You’re using personal credit cards to cover crew payroll during slow months.
• You’re renting heavy equipment like cranes or dumpsters that you use often enough to buy outright.

A business loan for your roofing company bridges the gap between the cash you need to get going and payments from your customers. Our small business financing partners will work with you to identify the right type of small business loan with fair terms that help you take on more jobs and gain new customers.

The requirements to qualify for a business loan for your roofing company vary by financing provider. Traditional lenders, credit unions, government agencies, and alternative online lenders are all going to have certain minimum requirements that applicants need to meet to get funded. These may include a minimum amount of time in business (i.e., six months to a year), a minimum amount in annual revenue, and an established credit score (from poor to excellent). 

Regardless of the amount of time you’ve been in business, your annual revenue, and your FICO score, SmallBusinessLoans has solutions for you through our extensive network of trusted partners. Click here to see your matches now.