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Payments firm Billd lands $100M credit line to fund subcontractors

November 16, 2022

Construction payments firm Billd secured a $100 million debt facility to fund its subcontractor customers’ short-term cash flow needs, the company announced.

The warehouse-lending finance structure was led by Philadelphia-based asset-backed securities investor LL Funds. On top of the debt facility, LL Funds also holds equity in the company, according to Jon Katz, Billd’s vice president of marketing. Warehouse lending lets a borrower provide loans to others without using its own capital.

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