Built for the Job: Financing Solutions for Contractors and Construction Businesses

In construction and the skilled trades, having the right equipment can make the difference between taking on the next job and turning it down.

A new work truck. A replacement skid steer. Welding equipment. An excavator. HVAC equipment. Specialized tools for a growing crew.

For contractors, plumbers, electricians, welders, HVAC companies and other construction businesses, equipment isn't just an expense—it's what keeps the business moving.

But purchasing everything with cash can put pressure on the money you need for payroll, materials, fuel and everyday operating expenses. That's where the right financing strategy—and the right banking relationship—can help.

At Great Plains Bank, we work with small businesses to find financing solutions that support today's jobs while helping owners prepare for tomorrow's opportunities.

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Growing a Construction Business Takes Capital

Growth in the construction industry doesn't always happen gradually.

Sometimes, the opportunity shows up all at once.

You win a larger contract and suddenly need another truck. You add a crew and need more equipment. An essential piece of machinery breaks down in the middle of a busy season. Or a project requires specialized equipment you don't currently own.

These are good problems to have—but they're still problems that require capital.

Having a relationship with a bank that understands your business can help you respond when those opportunities arise.

Finance the Equipment That Helps You Get the Job Done

Equipment can be one of the largest investments a construction or trade business makes.

Depending on your operation, that could mean:

• Work trucks and service vehicles

• Trailers

• Excavators and backhoes

• Skid steers and loaders

• Tractors and heavy machinery

• Welding equipment

• HVAC equipment

• Plumbing equipment

• Electrical equipment

• Generators and compressors

• Specialized tools and machinery

Equipment financing can help you acquire the assets your business needs without using a large portion of your available cash at once.

That can leave more working capital available for the expenses that don't stop just because you've purchased a new piece of equipment.

Protect Your Cash for the Next Project

Construction businesses often have significant expenses before they receive payment for a completed job.

Materials have to be purchased. Employees and subcontractors need to be paid. Fuel goes in the trucks. Insurance premiums come due. And unexpected expenses have a way of appearing at exactly the wrong time.

That's why preserving cash can be so important.

Instead of paying cash for a major equipment purchase, financing may allow your business to spread that cost over time while keeping more money available for everyday operations.

For a growing contractor, that flexibility can be valuable when the next opportunity comes along.

Small Business Loans Can Help You Do More Than Buy Equipment

Not every investment comes with wheels or an engine.

Sometimes the next step for your business means hiring employees, expanding your shop, increasing inventory, purchasing materials or investing in improvements that allow your company to take on more work.

A small business loan can provide financing for a variety of business needs.

For example, a contractor might need capital to prepare for a large project. An HVAC company may want to expand its fleet before the busy season. A plumbing company could be ready to add another crew. An electrical contractor might need additional equipment to pursue larger commercial jobs.

The goal isn't simply to borrow money.

It's to put capital to work in a way that helps your business become stronger.

Should You Finance Equipment or Pay Cash?

It's a question many business owners eventually face.

If you have enough money in the bank to purchase a truck or piece of equipment outright, paying cash can seem like the simplest option.

But having the cash doesn't necessarily mean spending it all at once is the best decision for your business.

Consider what else that money may need to cover over the coming months:

Payroll. Your employees need to be paid regardless of when customers pay you.

Materials. Larger projects can require substantial upfront purchases.

Repairs. Trucks and equipment rarely break down when it's convenient.

Growth opportunities. The ability to quickly add another employee, vehicle or piece of equipment could help you pursue a valuable contract.

Unexpected expenses. Every business benefits from maintaining financial flexibility.

Equipment financing may allow you to acquire what you need while preserving cash for these other priorities.

A Great Plains Bank lender can talk through your options and help you determine which approach makes sense for your business.

Financing for the People Who Build, Repair and Keep Things Running

No two trade businesses operate exactly alike.

A plumber running five service trucks has different financial needs than a commercial electrical contractor managing multiple job sites. A welding operation purchasing specialized machinery has different considerations than a general contractor adding excavation equipment.

That's why a conversation matters.

At Great Plains Bank, we work with businesses across the construction industry and skilled trades, including:

• General contractors

• Construction companies

• Plumbers

• Electricians

• HVAC contractors

• Welders and fabrication businesses

• Excavation companies

• Concrete contractors

• Roofing companies

• Landscaping and site-work businesses

• Specialty subcontractors

• Independent and self-employed tradespeople

Our goal is to understand how your company makes money, what you're trying to accomplish and what financial resources can help you get there.

When Is It Time to Talk to a Business Lender?

You don't have to wait until you urgently need financing to start the conversation.

In fact, getting to know a lender before you need capital can help you better understand your options when an opportunity arises.

It may be worth having a conversation if you're thinking about:

• Replacing aging equipment

• Purchasing another work vehicle

• Adding a new crew

• Taking on larger projects

• Expanding into a new market

• Purchasing or improving business property

• Increasing your working capital

• Preparing for seasonal demand

• Growing your business over the next several years

Even if you're not ready to borrow today, having a banking relationship in place can make it easier to know who to call when the time comes.

Your Equipment Works Hard. Your Financing Should Too.

You've invested years building your reputation, developing your skills and earning the trust of your customers.

Your bank should understand what it takes to keep that business moving.

Great Plains Bank provides equipment financing, small business loans and other business banking solutions designed to help contractors and skilled-trade businesses invest in their operations and pursue new opportunities.

Whether you're buying your first work truck or preparing to expand an established construction company, our business bankers are ready to talk about where you're headed next.

Have equipment to purchase or plans to grow your business? Talk with a Great Plains Bank business lender about financing options built around your goals.