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How banks manage their relationships with subcontractors
Once you have secured a line of credit through a bank, what does that relationship look like going forward?
There are some key things that your bank will like to see from you.
To begin with, everytime you pull on your credit line, the bank will require you to report your accounts receivable agings on a monthly basis.
Why?
Because they want to ensure that you're not pulling down more money than you are going to recieve in the next 60 days.
What else do you need to know?
Listen to this week's Finance Friday to find out.
Follow us at https://linktr.ee/billd to stay up-to-date on the latest news in commercial construction
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By Christopher Doyle and Jesse WeissburgOnce you have secured a line of credit through a bank, what does that relationship look like going forward?
There are some key things that your bank will like to see from you.
To begin with, everytime you pull on your credit line, the bank will require you to report your accounts receivable agings on a monthly basis.
Why?
Because they want to ensure that you're not pulling down more money than you are going to recieve in the next 60 days.
What else do you need to know?
Listen to this week's Finance Friday to find out.
Follow us at https://linktr.ee/billd to stay up-to-date on the latest news in commercial construction