Good news for 2016: the construction sector is on the upswing. Data from BFS Capital, a small business lender, shows that demand for small business loans is at an all-time high among construction companies.
- BFS lent $48.8 million to construction companies through Nov 30, 2015.
- This is a 77.7% increase over the same time period in 2014
- Construction surpassed retail and food & hospitality as the biggest industry for BFS
“Construction has long been seen as an economic indicator, however many construction businesses have issues accessing capital due to their lack of collateral,” according to Marc Glazer, CEO of BFS Capital. “As new housing starts increase and office space fills up, through lower vacancy rates and new commercial building, the construction business will increase.”