PlanHub and Billd have announced a new partnership aimed at helping subcontractors overcome cash flow challenges when planning new projects. The integration of Billd's financing solutions into PlanHub's preconstruction platform will provide subcontractors with secure project financing and management tools.

This collaboration allows PlanHub's subcontractor customers to access capital directly within the bidding workflows, enabling them to bid confidently on new projects. This move is expected to bring stability to an industry affected by price fluctuations and supply chain delays.

Ro Bhatia, CEO of PlanHub, emphasized the importance of supporting construction professionals amid ongoing 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," said Bhatia.

Subcontractors often face difficulties securing early financing for bids and must cover expenses upfront once projects commence. They typically wait an average of 74 days for payment after completing work. The integration of Billd Connect offers financial options that allow contractors to bypass this waiting period.

Chris Doyle, CEO of Billd, expressed enthusiasm about the partnership: “We’ve been privileged to collaborate with PlanHub on our goal of being the champion of the subcontractor.”

The partnership aims to create a comprehensive platform that combines project management, bid creation, takeoff solutions, and now material and invoice financing. This empowers commercial subcontractors with essential tools for successful project execution.

PlanHub is recognized as a leading cloud-based preconstruction platform connecting general contractors, subcontractors, owners, and material suppliers. It serves thousands of contractors by simplifying processes and providing market intelligence.