Billd is a material supplier who provides short-term financing for the construction industry. Their aim is helping contractors and suppliers grow their businesses with less hassle and risk. They offer credit up to 120-day terms for contractors, who usually aren’t paid until more than 90 days after purchasing materials – allowing contractors to scale their business and stabilize cash flow. Billd understands that traditional credit data can be a poor predictor in the construction industry and embraces contractors who struggle to obtain traditional bank financing.
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Billd attempted to manage their material financing product by initially relying on Quickbooks, but quickly realized that it would be difficult to manage a fast-growing company when their system relied on manual disbursements.
They dedicated 4-6 hours daily on disbursements, making it difficult for scalable growth. They needed a platform that was suited for their specific needs and required a highly accurate platform with strong data integrity and daily recording.
To streamline their operations and grow their business, Billd needed a solution that could cut down time dedicated to manual disbursements. Fundingo was able to provide a transition to a fully digital, streamlined and integrated credit management system; one that provides notifications for failed repayments and other updates vital to their day-to-day operations.
With Fundingo’s implementation of their credit servicing module in May 2019, Billd experienced an increase in disbursement funds by 900% and has expanded its team to at least double their original size. Fundingo was able to decrease Billd’s time spent on disbursements; going from 4-6 hours daily to 1 hour of double-checking their sheets. Since working with Fundingo, Billd averages about 2,500 transactions/wk and has become a client with a fully-customized software.
“We really have to give kudos to the development team for everything they’ve done. Throughout the entire process and even today, we’ve been able to feel more like a member of the team and less of a vendor-client relationship.”
Jon Placa – Director of Financial Operations – Billd
CEO of CloudMyBiz Salesforce CRM consulting services with a deep knowledge in the lending industry. Taking keen interest in the project management side of operations, playing a vital role in the 31% YOY company growth. Strategic leader, mastering the ability to problem solve at every level of the business, providing effective solutions for clients.