In a capital city where state buildings, hospitals and campuses shape the skyline, contractors often wait on approvals and draws while payroll and materials come due on schedule.
Apply Now →Albany is the capital of New York and the most populous city in Albany County, with 99,224 residents at the 2020 census. Its economy leans on government, health care, education and, more recently, technology. The skyline reflects that: the Empire State Plaza complex, built from the mid-1960s to 1978, still dominates many views, and later downtown projects added state agency headquarters and renovations. For the contractors in the city and its Capital Region suburbs, those institutions are the kind of customer that shapes how a job gets paid.
On most commercial and institutional work, a contractor does not get paid when the work is done. The pattern is closer to this: mobilize, buy materials, pay crews for two or four weeks, submit a pay application, wait for review and approval, and then wait for payment. The business is carrying payroll and materials ahead of draws for the whole stretch.
| Stage | Cash out | Cash in |
|---|---|---|
| Mobilization | Deposits, permits, rental equipment | Sometimes a small advance |
| Weeks 1 to 4 | Crew payroll, materials, fuel | None yet |
| Pay application submitted | Payroll continues | None until approval |
| Approval and payment | Next cycle already running | One draw, minus any retainage |
Terms depend on the contract. Read yours for payment timing and any retainage held back until closeout.
A general contractor may be waiting on an owner, and the subcontractors are waiting on the general. Each step adds days. An electrical or mechanical sub with five employees and a fixed payroll can be out of pocket for weeks on a job it finished. This is the standard case for working capital: not weak performance, but long payment cycles.
For illustration only, not our terms. A trade contractor with a $20,000 bi-weekly payroll and $15,000 a month in materials on a job that pays net-45 after approval is carrying about $50,000 before the first dollar returns.
This page does not promise funding for any particular trade or job type. Each application is reviewed on its merits.
A list of open pay applications with amounts and dates, your contract terms for each, and roughly three months of business bank statements. That is enough to explain the gap, and enough for a funder to see how money moves through the account.
Show the pay application date, the amount and the contract terms. A documented receivable explains a cash gap better than a description does.
It can be, because that money is earned but not paid until closeout. Include it when you calculate how much cash is tied up.
Yes. Sole proprietors and small firms can apply. We look at about three months of business bank statements.
If the purchase is a specific piece of equipment, compare equipment financing first. Use working capital for payroll and materials.
No tax returns are required.
Three months of business bank statements and a 5-minute application. FICO 500+ considered. $25,000 to $5,000,000, funded in as little as 24 hours.
Apply Now →It takes about two minutes and it will not affect your credit score.
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