Line of Credit for Roofing Companies

95% of roofing companies that are pre-approved move forward with activating a line of credit within 3 weeks. Roofing contractors searching for affordable lines of credit have an advantage with Line of Credit Depot. We shop for the best program for you and you save!

By Matthew Elling
Co-Founder and Consultant at Line of Credit Depot
Updated on February 10, 2021
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Running a Roofing Business requires more than just being a great roofer. The ability to access credit when you need it is a must have tool every roofer should have. Lines of Credit are like a cash credit card for your roofing business...without the high fees!

Roofing companies are expensive to run; with soaring insurance rates and rising cost of materials, now is the best time to take a look at how access to cheap working capital to run your roofing business as smooth as possible.

Whether you are looking to have the security of emergency working capital or are planning on spending some advertising dollars to drum up some business...a Line of Credit is what every Roofing Company should have.

When roofing companies activate a line of credit, they have access to funds when they need them. Why apply for a loan or expensive business financing when your under the gun and actually need the money? Roofing, along with other construction trades, come with surprises and business ups and downs. It's important to be running as smoothly as possible and your cash flow and liquidity is no different.

Whether your roofing company specializes in commercial or residential roofing, the need for affordable working capital is the same.

Maybe you've seen or experienced this before: You are booking tons of work and now there is a backlog in construction. Replacing old roofs, metal roof installations, commercial roof maintenance are all jobs scheduled for your crews. To get to all these jobs requires manpower, materials and money! So when you outsell your calendar, it's important to be able to access money for the business in the form of a revolving line of credit. After job profits don't have to use cash on hand to supplemental finance your new jobs. Profits on jobs should go into the business. Accessing liquid cash, at a good rate, is most always cheaper than taking money out of the business!

In business, needing capital is not a bad thing, it's very necessary as a roofing company grows. For example, if you are looking for capital for new scaffolding because of your high volume of work, it's normal for a roofing contractor to leverage the business and make sure funds are available.

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When your roofing company needs access to cash for working capital where do you turn? The best form of small business financing is a line of credit and that's all we do here at Line of Credit Depot.

When you are in between jobs, but still have bills coming in, you can draw from the credit line. When mobilization funds are needed for commercial roofing projects, you can draw from the credit line. If your business needs to float a series of large projects, you can draw from the line.

Most times in Commercial Roofing, depending on your competition, you are probably trying to be as aggressive as possible in your bids. Sometimes to win a bid you may defer startup funds to be more attractive. This can reek havoc on your working capital funds as you rush to meet certain project payouts. This is why, if you want to win an aggressive bid and have the ability to offer flexible payment terms, a line of credit is a must!

When it comes to accessing a line of credit for your roofing business, the time is now! Rates are low and the money is available from many different banks. We are talking about rates starting at 4% APR.

Wondering if your business is pre-qualified for a line of credit? In order to get qualified for a line of credit, it starts with completing a quick online application to see if your roofing company will qualify.

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