Billd aims credit report service at subcontractors

Billd, an Austin, Texas-based financial services provider for commercial construction subcontractors, has been issued a patent for its project-based credit evaluation method that determines credit offers for subcontractors by assessing the project on which the credit will be used. 

Billd says it was “first to market by launching a suite of financial products to fix the broken repayment chain for subcontractors and to disrupt” the way credit worthiness is evaluated in what it calls the $1.5 trillion construction industry.

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

Historically, subcontractors have been underserved by financial institutions due to limited collateral and long payment timelines, Billd says. “By evaluating creditworthiness at the project as well as the business level,” Billd says it can more accurately appraise risk.

The company also provides extended terms on materials and immediate advances on approved pay applications, “helping thousands of subcontractors establish the liquidity they needed to deliver timely and successful work on their commercial projects.”

The method awarded with a patent involves receiving project contract information electronically, analyzing project attributes and using online data sources to verify and expand those details.

The method then calculates a credit score for the project which can determine a credit capacity. “This method opens up purchasing power for subcontractors that meets their needs for procuring material on a commercial construction project,” Billd says.

In the case of demolition subcontractors, the same service could help determine appropriate financing levels for leasing or renting equipment to be used on a project.