Billd and Atlas SP Partners Unite for $144 Million Financing Venture to Revolutionize Construction Finance

A New Dawn for Construction Finance: Billd and Atlas SP Partners Join Forces

In a remarkable development in the construction finance sector, Billd, a prominent provider of financial solutions tailored specifically for commercial subcontractors, has announced its partnership with Atlas SP Partners, the warehouse finance operation primarily owned by Apollo funds. This collaboration has yielded a groundbreaking financing facility worth $144 million, which is poised to transform the landscape of working capital solutions in the commercial construction industry.

Chris Doyle, CEO of Billd, described this partnership as a significant stride toward solving supply chain finance issues that have long plagued construction subcontractors. He emphasized that this represents the “first institutional capital ever deployed to solve the working capital problem in commercial construction.” This landmark financing initiative reflects an evolving strategy that aligns with the increasing urgency for flexible and effective financial solutions within the construction landscape.

The timing of this partnership couldn’t be more critical. Historically, subcontractors have faced challenges such as prolonged payment cycles and the burden of upfront material costs, factors that can impede project progress and profitability. By introducing a financing solution specifically structured for the construction industry, Billd reaffirms its commitment to empower subcontractors with more accessible and efficient working capital.

“This initiative isn’t just about funding; it’s about paving a new path for subcontractors,” Doyle explained. “Having access to more efficient working capital solutions empowers subcontractors to do the best work of their lives. Billd is proud to continue paving the way with new financial solutions designed for their specific needs.”

Funding via this facility allows subcontractors to manage cash flow more effectively, which ultimately promotes stability and growth. Billd has engineered its solutions to align closely with the payment terms typical in construction work, significantly alleviating the risks associated with upfront costs and delayed payments. The goal is to create a financial environment where subcontractors can thrive without the constant stress of immediate cash shortages.

Founded in 2018 by industry veterans from the realms of construction and finance, Billd has made its mark as an advocate for subcontractors. By leveraging a patented analytical and financing methodology, the company has innovated ways for subcontractors to manage cash flow challenges and cover necessary costs including labor and materials.

Meanwhile, ATLAS SP Partners stands as a reputable player in the investment space, providing comprehensive capital, financing, and advisory services tailored to market participants. Their commitment to offering creative and customized structured credit solutions complements Billd’s mission to develop transformative financial tools for the construction industry.

As both companies move forward with this partnership, they aim not only to meet the immediate financial needs of subcontractors but also to position them for future growth opportunities within a rapidly evolving construction landscape. The $1.5 trillion construction industry is on the brink of a financial revolution, and with the introduction of these advanced financing solutions, subcontractors have a powerful ally ready to champion their cause.

For those interested in learning more about Billd’s innovative financial products and their commitment to supporting subcontractors, visit Billd.com. Similarly, insights into the offerings from ATLAS SP Partners can be found at atlas-sp.com.

The aggregate impact of these combined efforts is expected to create an ecosystem that not only supports subcontractors today but also equips them for long-term success in the upcoming challenges faced by the construction sector.