Billd, a company specializing in payments for commercial construction subcontractors, has received a patent for its project-based credit evaluation method. This approach assesses the project where the credit will be used to determine credit offers for subcontractors.

The company introduced financial products aimed at addressing issues in the repayment chain for subcontractors and disrupting the $1.5 trillion construction industry. Billd provides extended terms on materials and immediate advances on approved pay applications, assisting thousands of subcontractors in gaining liquidity to complete their projects successfully. Securing this patent marks a significant step in expanding and safeguarding their market influence.

Subcontractors have traditionally faced challenges with financial institutions due to limited collateral and lengthy payment timelines. By evaluating creditworthiness at both the project and business levels, Billd can more accurately assess risk and provide enhanced financial support.

The patented method involves electronically receiving project contract information, analyzing project attributes, and using online data sources to verify these details. It then calculates a credit score for the project, determining its credit capacity. This method enhances purchasing power for subcontractors by meeting their material procurement needs on commercial construction projects.

Chris Doyle, CEO of Billd, stated: “At Billd, we believe subcontractors deserve financial solutions that align with their specific needs. This patent deepens our commitment to expand subcontractor access to financing and protects our intellectual property, verifying our first-to-market technology.”

A machine learning component improves the method's speed, efficiency, and repeatability while reducing manual effort typically required for project assessments. The system learns from past projects to better identify potential risks associated with working capital for specific projects. It continuously updates its understanding based on new information using artificial intelligence-powered learning.

This patent further strengthens Billd’s portfolio of intellectual property through patents and trade secrets. Represented by Polsinelli Law Firm, the company plans to use its patent portfolio to protect its intellectual property and expand its innovative payment and financing solutions.

For media inquiries, please contact:

Anath DiPillo, Senior Director of Marketing

anath@billd.com