General contractors are the architects of the physical world, turning blueprints into reality. But behind every successful build is a strong financial foundation. Securing the necessary capital—whether for bridging cash flow gaps, purchasing equipment, or expanding operations—is one of the most persistent challenges in the construction industry.
When it comes to traditional lending, two major players stand out: banks and credit unions. While both offer essential business financing, the choice between them can significantly impact a contractor's bottom line and borrowing experience.
For general contractors seeking business loans or lines of credit, both banks and credit unions present distinct advantages and disadvantages.
The Contractor Takeaway:
A bank might be ideal for a large, established contractor seeking high loan amounts, complex financial products, or a broad national network.
A credit union is often the better choice for smaller or mid-sized contractors who value lower rates, personalized service, and a strong local relationship, provided they meet the membership requirements.
Representing: Enduro Mortgage, Colorado Mortgage Company Registration
NMLS# 2127434 Regulated by the Division of Real Estate
EQUAL HOUSING OPPORTUNITY https://nmlsconsumeraccess.org
