PlanHub and Billd have announced a strategic partnership to help subcontractors secure project financing during preconstruction. This integration aims to provide subcontractors with solutions to manage cash flow effectively, enabling them to tackle financial challenges when growing and executing their project pipelines.

The collaboration allows PlanHub's subcontractor customers to access capital through Billd Connect, Billd’s suite of embedded financing apps. This feature is integrated into PlanHub’s bidding workflows, allowing subcontractors to bid with confidence, knowing they have the necessary capital for new projects. It also helps them incorporate the cost of financing into their bids, providing some stability amid price fluctuations and supply chain delays.

Ro Bhatia, CEO of PlanHub, emphasized the importance of supporting construction professionals in navigating market challenges: “Having more financial control in the preconstruction phase will help subcontractors using the PlanHub platform lock down projects with confidence, build their pipelines, and improve profit margins.”

Contractors often face difficulties securing early financing for project bids. They need to cover costs such as materials and labor upfront while waiting an average of 74 days for payment on completed work. The integration with Billd Connect offers subcontractor-specific financial options like Pay App Advance, which allows contractors to bypass waiting periods for payment.

Chris Doyle, CEO of Billd, stated: “Together we will empower subcontractors to bid with confidence knowing that they have the financial tools and resources required to deliver on their promises to their customers.”

The partnership provides a comprehensive platform combining project management and financial solutions for commercial subcontractors.