Payroll and materials go out in the first weeks of a job, and the draw comes later. For Allen contractors, cash-flow planning means knowing how long the payment cycle really is.
Apply Now →Allen is a northern suburb in the Dallas-Fort Worth metroplex, about twenty miles north of downtown Dallas, with 104,627 residents at the 2020 census. It sits in Collin County, whose county seat is McKinney, and neighbors Plano, Frisco, McKinney, Wylie, Prosper, Murphy, Princeton and Anna. A contractor based here can reach work across those neighboring cities, which is a real advantage and a real source of travel time between sites.
Allen's business mix is broad, from restaurants and healthcare practices to retail, trades and service firms, and many of those need the work contractors do.
Steps three through five can run for weeks. Steps one and two cannot wait.
Under Texas Property Code section 28.004, overdue amounts accrue interest from the day after the due date at one and one-half percent per month. And under section 53.052, a lien affidavit is filed with the county clerk; for an original contractor on a non-residential project, the deadline is the 15th day of the fourth month after the month in which work was completed. These are summaries of the statutes, not legal advice, and how they apply depends on the contract. Read the statutes or speak with a construction attorney.
| Rule | What to do with it |
|---|---|
| Interest on overdue amounts | Track due dates and record when each payment is late |
| Lien filing deadline | Calendar it on the day work finishes, not the day payment is late |
Working capital can cover payroll and materials while a draw is pending, and equipment financing can cover a purchase such as a skid steer or truck. See working capital in Allen, equipment financing in Allen or lines of credit in Allen.
Funding runs from $25,000 to $5,000,000, and some applicants are funded in as little as 24 hours. The application takes about five minutes with a soft credit pull. Sole proprietors can apply. We do not state rates or terms here. More: Collin County, Allen business funding, merchant cash advance in Allen, fast funding in Allen, Allen restaurants and Allen healthcare.
Yes. Sole proprietors can apply, and the application takes about five minutes.
Add payroll and materials due before the draw arrives and subtract cash on hand.
Property Code 28.004 provides that overdue amounts accrue interest from the day after the due date at 1-1/2 percent per month. This is not legal advice.
Under Property Code 53.052, for a non-residential original contractor it is the 15th day of the fourth month after the month work was completed. Confirm with an attorney.
No. It is a soft pull.
Three months of business bank statements and a 5-minute application. FICO 500+ considered. $25,000 to $5,000,000, funded in as little as 24 hours.
Apply Now →It takes about two minutes and it will not affect your credit score.
No obligation • No impact to your credit score
