At Brilled Lighting, we work day and night to create world-class partnerships to the benefit of all we work with. We specialize in creating these partnerships with contractors, lighting management companies, and ESCO’s, as well as partnering with complementary services in the industry to help serve these core customers.
We’ve all been in a situation where the work has been done and months later you still haven’t been paid for a job. For anyone who installs LED lighting, it is particularly difficult to bare the costs of materials for extended periods of time while you are waiting for customers to pay. Even worse, often when a customer doesn’t pay on time, it keeps our partners from pursuing other jobs because they can’t afford to draw their accounts down further to order materials.
Our mission is to help lighting contractors succeed by creating world-class partnerships. Brilled Lighting was founded on the belief that we can solve problems in the industry through these partnerships and that is exactly what we have set out to do by partnering with Billd.
That’s Where Billd Comes In
Billd is a construction finance company, focused solely on providing project-based material financing for contractors and installers working commercial projects. By taking advantage of Billd’s upfront funding for the purchase of materials like light fixtures, you can eliminate bottlenecks in your cash flow that are holding up the growth of your business. Billd helps reduce material supplier’s risk and provides you with 120-day payment terms. These extended terms include a 30-day payment-free period at the beginning with absolutely no cost to you. If you only need 30 days, you pay nothing. If you need more time, then you have it. It’s a win-win. Our aim is to give you flexible payment options so you can focus on growing your business.
What Are The Requirements?
If you install lighting for commercial projects, chances are you already qualify! A detailed list of the simple requirements is below:
- 1+ Year in Business
- $500,000+ Annual Revenue
- 600+ FICO (No hard credit pull)
- Must be a commercial project
- Business can’t be registered as a sole proprietorship (For liability reasons)
How Does It Work?
Getting started with Billd is incredibly simple. Brilled Lighting is already registered as a supplier in the system so all you have to do is follow the steps below to sign up and get approved for financing on your next project.
- Start by enrolling with Billd at https://go.billd.com/brilledlighting – enrollment takes less than 5 minutes.
- Finalize material quote – You’ll work with Brilled Lighting as normal to obtain a formal materials quote. Your cost will not change if you choose to use our extended payment terms.
- We create a Material Purchase in Billd – When you’re awarded the job and want to move forward with the material purchase, we upload the same material quote we provided to you onto the Billd portal. You can then upload your job contract to the portal and sign the Billd Purchase Statement.
- Billd approves your Material Purchase – Billd reviews and approves material purchase, typically same-day.
- Materials are shipped – Your 30-day payment-free period starts when the material is shipped. We cover 100% of the costs until then. That also means you won’t have to come up with a down payment on orders with a longer lead time. After 30 days, you have an additional 90-day credit term available if you need it.
Is This For Me?
Billd’s financing options can be incredibly helpful to free up needed cash flow, but we understand that not every construction business wants to finance their materials. The following are good examples of when this may make sense for you.
Growing Your Business
If your business is in growth mode, you are likely reinvesting every penny you can into achieving that next step. Without strong cash flow, it’s extremely challenging to take on larger projects, which can hinder progress to that next level. With a pay-when-paid solution for your material purchases, you can finally free up the cash flow you need to grow without having to pull money from other projects. Better yet, you won’t have to pass on pursuing additional projects due to liquidity.
How Is This Better Than My Other Credit Options?
Whether you are paying COD, using a company credit card, or even using existing payment terms available from your local supply house, Billd has some unique features that may make it a better fit to help you grow.
Credit cards typically have lower credit limits and many times are not sufficient to cover large material purchases. Additionally, running up a credit card balance can negatively impact your credit score, and may even cause an immediate reduction in any credit lines you have available. COD contractors are fronting capital for their GC or Property Owner for many months, causing big strains on cash flow.
Even using existing payment terms at your local distributor or supply house may not be in your best interests as there are typically very specific limitations that may hinder you from doing what you need to do. If your supply house isn’t basing extended credit on specific jobs, you will likely run into limits that keep you from taking on additional projects without first paying off your current bill. It’s important to remember that most supply houses and electrical distributors have become “accidental banks.” Contractors have always needed financing options, because it’s always been difficult to get customers to pay on time, but supply houses were not designed to fill this need. As a result, some large customers can command great terms with their local supply houses, but most smaller contractors are unable to negotiate a fair deal.
Billd levels the playing field by offering the same terms to everyone. As long as you meet the basic qualifications, you’ll be able to get all the terms you need from us here at Brilled Lighting through our new partnership with Billd. Don’t forget that with Billd you are also getting the first 30 days completely payment free and you have the flexibility of an additional 90 days if you need it.
How Much Will This Cost?
Because of Brilled Lighting’s partnership with Billd, you receive a 30-day payment-free term from the day the product is shipped. There’s no prepayment penalty so you can pay within 30 days and incur zero cost. If you need more than 30 days, that’s when payments to Billd start. Typically, Billd charges $50 per $10,000 borrowed on a weekly basis, but pricing and terms may vary.
You can get an estimate of your weekly payment by checking out Billd’s payment calculator here.
You can also use Billd’s cash flow estimating calculator here, to determine how much cash is needed to take on a new project.
Where Can I Sign Up?
If you’re interested in taking advantage of our new extended payment terms for contractors and lighting installers, enroll now by visiting https://go.billd.com/brilledlighting.
If you have any questions, feel free to call us at 435-932-0867. We would be happy to walk you through the process to set up these extended payment terms for your business!