Category: Financial

July 10, 2020

This week, the Small Business Administration and Treasury Department disclosed information about recipients of the Paycheck Protection Program, and thousands of construction-related firms are on the list. The data shows the federal government issued $521 billion in loans, with an […]

July 7, 2020

Just weeks after New York’s Metropolitan Transit Authority announced it was beginning its largest capital program ever, COVID-19 hit the region, and the area quickly became the epicenter of the coronavirus infection in the U.S. As the state grappled with […]

June 30, 2020

The survey was based on input from officials at more than 1,100 municipalities across the country. Other findings include: 70% of municipalities have not received funding through the CARES Act. 13% of municipalities are making cuts to inspection, planning and […]

June 26, 2020

While much has remained the same in construction workers’ compensation claims, there’s a small difference that’s worth noting. Autos hitting workers now seems to exceed slips and trips that don’t involve a fall, accounting for 7.6%, or about $800 million, […]

June 22, 2020

Construction’s volume of federal Paycheck Protection Program loans has jumped 42% since mid-April, updated Small Business Administration data show, but construction’s ranking slipped to third among industries, from first place after PPP’s first round of funding. The latest SBA ranking, […]

June 19, 2020

After a two-day marathon voting session, the House Transportation and Infrastructure Committee has approved a measure drafted by Democrats that would provide $494 billion for highway, transit and rail programs over the next five years, with an emphasis on reducing […]

June 16, 2020

Having a strong relationship with a bank is crucial for businesses even in good times, but the uncertainty of the COVID-19 situation has reinforced the importance of an effective financial institution. Most recently, the Paycheck Protection Program demonstrated the critical […]

June 15, 2020

As construction projects around the country begin to reopen after COVID-19 shutdowns, contractors are returning to work. Whether because of reduced customer demand or government mandate, many have endured months of inactivity and the lack of revenue to go along […]

June 10, 2020

Costs are an integral part of the construction business: the industry spends money to make money. But despite some of its best efforts, considerable operating costs are making it more challenging to compete and, in some cases, undermine the quality […]

June 10, 2020

Digital design-build company Prescient has received a $90 million financing commitment from Eldridge, a holding company with businesses across finance, technology, real estate and entertainment. Prescient leverages off-site manufacturing to help developers and general contractors create multifamily projects more quickly […]