Placed through our bank partner network
Term loans for contractors, placed with our bank partners.
$25,000 to $5,000,000 over 1 to 10 years at roughly 9%–22% APR. 650+ FICO, 2+ years in business, 1.25x DSCR, and 2 to 4 weeks to close.
$0 to apply · Soft credit pull · No impact to your credit score · 4-minute application
How this product is routed. Long-term loans are placed through Jobsite Funding's bank partner network, not funded in-house. On every file we look at our in-house working capital and Drawline first; if a multi-year term loan is genuinely the better instrument, we place it and we tell you with whom.
The short answer
Term loans for construction businesses run $25,000 to $5,000,000 over 1 to 10 years at roughly 9% to 22% APR, placed through Jobsite Funding's bank partner network.
Typical requirements are 2+ years in business, a 650+ owner FICO, and a 1.25x debt service coverage ratio. Expect 2 to 4 weeks to close — if you need money this week, that is working capital or the Drawline, not a term loan.
When a term loan beats short-term money
The best use of a term loan in this industry is killing short-term debt. If you are three advances deep with daily debits consuming 18% of deposits, the answer is not a fourth advance — it is a single amortizing term loan at an annual rate that retires all of them and gives you a monthly payment you can plan around. We decline files with 3 or more open positions precisely because adding one more is malpractice.
Term loans are also right for: buying out a partner, acquiring another contractor's book or crew, a multi-year yard improvement, and financing a bonding-capacity increase that requires visible working capital on the balance sheet.
They are wrong for: mobilization on a job starting in three weeks, a machine at auction Thursday, and anything where a 2–4 week close kills the opportunity.
Requirements and what the bank will ask for
- 2+ years in business and a 650+ owner FICO
- 1.25x DSCR on normalized cash flow
- 2 years of business tax returns
- Year-to-date P&L and balance sheet
- A current WIP schedule. Banks underwriting contractors want to see earned-versus-billed; aggregate billings running 2%–5% ahead of earned revenue is the health benchmark.
- AR and AP aging
- Active trade license and a personal financial statement
The WIP schedule block
If you want bank money, learn to produce a WIP schedule. It is the single document that separates contractors who get bank term debt from contractors who do not.
It shows, per job: contract value, cost to date, estimated cost to complete, percent complete, earned revenue, billed to date, and the over/under billing. Underbilling greater than 2% of contract value is the threshold at which a lender starts asking questions.
We will tell you what is wrong with yours before we send it to a partner bank — for free, whether or not you fund with us. The full WIP anatomy is published here.
The Contractor Standard
Our published minimums. No login, no form, no phone call to find out.
| Requirement | Jobsite Funding |
|---|---|
| Minimum credit score | None for working capital, the Drawline, or invoice factoring. We underwrite cash flow. 600+ for equipment financing. 650+ for SBA and bank term loans. |
| Time in business | 6 months |
| Revenue | $180,000 in trailing-12-month business deposits. Not a monthly minimum. |
| Slow months | Up to 2 months under $5,000 in your last 12 — no penalty, no explanation required. |
| Bank statements | 6 months. We read 6, not 3, because 3 months of a contractor's statements is a season, not a business. |
| Also counts as revenue | Approved pay applications, signed contracts with a schedule of values, and retainage receivable. Money you have earned but not yet been paid. |
| Funding range | $10,000 to $2,000,000 underwritten in-house. Up to $10,000,000 through our bank and SBA partners. |
| Time to funding | Same business day on complete files received before 11:00 AM ET. 24 hours is typical. |
| Contract length | 2 pages. |
| Early payoff | Discount of up to 30% off the remaining balance. No prepayment penalty on any in-house product, ever. |
| Collateral | None required for working capital or the Drawline. Equipment financing is secured by the equipment. |
| Personal guarantee | Yes, on in-house products. Standard for the industry and we are not going to pretend otherwise. |
| License | Active state or local trade license where your work requires one. |
| Business type | US business with a US business bank account and an EIN. Sole proprietor, LLC, S-corp, C-corp, partnership — all eligible. |
| Where we lend | All 50 states. |
| Cost | Working capital: a fixed total cost, disclosed in dollars in the agreement before you sign, over 3 to 18 months. Drawline: 1.8% to 4% per 30 days on the drawn balance only. Equipment: 7.9% to 24.9% APR, 24 to 72 months. |
| What it costs to apply | $0. Soft credit pull. No impact to your personal credit score. |
What we will decline: businesses under 6 months old, businesses with 3 or more open advances already in place, federal or state tax liens without a payment plan, and any applicant with an open bankruptcy. We will tell you on the phone, the same day, and we will tell you why.
Off-Season Step-Down: name up to 4 slow months at application and payments in those months are 40% of the in-season payment, with the deferred principal re-amortized across the in-season months. It is written into the contract at origination, not negotiated after you miss. Available on working capital and the Drawline.
Criteria last reviewed: 21 October 2026
Seasonal and project-lumpy revenue. We gate on $180,000 of trailing-12-month deposits rather than a 3-month average, we allow up to 2 months under $5,000 in that window with no explanation required, and we size the offer off your 3 strongest consecutive months. Off-Season Step-Down drops your payment to 40% in up to 4 months you name at application, written into the contract at origination.
Note on this product: term loans carry the stricter partner-bank gate — 650+ FICO, 2+ years in business and a 1.25x DSCR — rather than the base Contractor Standard above. The base standard is what governs our in-house products.
Keep reading: SBA loans · working capital · equipment financing · the WIP schedule · all six products
Term loans, answered
- What credit score do I need for a construction business term loan?
- 650+ owner FICO is the practical floor across our bank partner network, alongside 2+ years in business and a 1.25x DSCR. If you are below that today, in-house working capital carries no credit minimum and 6 months in business.
- How long does a term loan take to close?
- 2 to 4 weeks from a complete package. The slow steps are tax returns, the WIP schedule and the bank's credit committee — not us.
- Can I use a term loan to refinance merchant cash advances?
- Yes, and it is the single best use of one in this industry. A term loan that retires several daily-debit positions and replaces them with one monthly amortizing payment is usually the difference between a business that recovers and one that does not.
- What is a WIP schedule and do I really need one?
- A work-in-progress schedule shows, per job, contract value, cost to date, estimated cost to complete, percent complete, earned revenue, billed to date and the over/under billing. For bank term debt, yes — it is effectively mandatory, and underbilling above 2% of contract value is where questions start.
- What is DSCR and how is it calculated?
- Debt service coverage ratio is normalized annual cash flow divided by annual debt service. Banks want 1.25x — $1.25 of cash flow for every $1.00 of payments, including the new loan. Existing advance payments count against it, which is another reason stacking hurts.
- Does Jobsite Funding fund term loans itself?
- No. Term loans are placed with bank partners. Working capital, the Drawline and equipment financing are the products Jobsite Funding underwrites and funds in-house. We name the partner before you sign anything.
Stop stacking. Start amortizing.
$0 to apply · Soft credit pull · A person calls you the same business day