"Obtaining financing is difficult for contractors even in good economic times. In uncertain times like these, the most important thing to focus on as you prepare your financing request is the preparation and presentation of current and accurate financial statements."

*ProfitCrew and Porter Keadle Moore, LLP have co-authored “Contractor Financing: How to Improve your Chances of Obtaining a Loan in Today's Tight Credit Environment” which offers useful tips specifically for construction companies looking to obtain financing in today's economy. The article touches on what banks are looking for when they are considering a loan. Surprisingly, in addition to a detailed financial analysis, banks will also consider a number of nonfinancial factors including, management team experience, owner's level of involvement, workmen's compensation and unemployment ratings, number of competitors, as well as various others.

We hope you find this piece to be resourceful, however if you have any questions on how your construction company can obtain financing, we are here to help. Please feel free contact Mickie Huneycutt at mhuneycutt@pkm.com or 404-420-5641 with any questions.

Mickie Huneycutt
Tax Manager, Porter Keadle Moore, LLP

Mickie is a graduate of the University of North Carolina at Chapel Hill with a Bachelors in Business Administration and a Masters in Accountancy. Prior to joining PKM, Mickie worked for five years at a large firm in Charlotte, NC and three years at a Big Four firm. Her career has included auditing, tax consulting and compliance services. Mickie is a Construction Industry Technician, and she specializes in tax services for clients in the real estate and construction industries. Mickie also provides advisory services for closely held businesses and high net worth individuals. Since joining PKM, she continues her work in the construction industry, and is expanding her knowledge base to include FAS 109, FIN 48, and tax compliance services for large corporations. Mickie is a member of the Georgia Society of Certified Public Accountants, North Carolina Association of Certified Public Accountants and the American Institute of Certified Public Accountants