Fincentiv – An Easier Path to Construction Project Financing

Currently free to join, Fincentiv revolutionizes the matching process of general contractors to project funders for complex construction projects.

CLEVELAND, April 11, 2023 /PRNewswire/ — With the supply chain continuing to impact the construction industry, Fincentiv™ announces a solution for both construction companies and lenders to streamline the project funding process. Their Lendcentiv™ algorithm allows general contractors to be paired with lenders. After pairing, companies can bid on larger construction jobs without worrying about the upfront product costs and long lender waiting periods. The platform is currently free to use.

“Construction companies often face a huge time and resource drain when trying to kick off projects,” says Marketing Associate, Kae Te. “Fincentiv digitizes the fund-seeking process, letting lenders know when construction companies have projects that match lender’s requirements and vice versa.”

 

Fincentiv is a secure cloud platform, so construction companies and lenders can manage all of their financial documents online. When a borrower wants to create an application, they only need to upload project data and specify how much they need. Lenders have the ability to fund projects together should the loan amount requested exceed one lender’s maximum financing option. This model allows lead generation for lenders and easy access to funding for companies’ repeat construction projects.

“We wanted to give general contractors and lenders a platform where they could save time and frustration,” says Te. “Fincentiv tells borrowers if they have any missing documents so the lenders don’t have to continuously follow up, and it helps the borrowers out as well because they know if something is wrong with their application.”

This announcement comes at a time when 71% of contractors expect their businesses to grow this year and 72% of contractors are seeking ways to streamline their construction business according to the 2022 National Subcontractors Report.