GoBuild Payments for Contractors Who Want to Grow

GoBuild business financing feature

GoBuild is a construction payments solution that makes it easy to access cash from your projects faster so you can grow your business without taking on debt. With the GoBuild Payments Product, you don’t need to take out loans to grow your business and pay your subcontractors on time.


One of the biggest growth challenges to general and sub-contractors is managing cash flow across a number of jobs. Growth requires cash on hand, and you can’t take on additional work unless you have the funds to pay for the added overhead materials and labor costs. Sometimes loans can work, but they’re particularly hard to qualify for in the construction industry. However, what if you could get access to cash from ongoing and upcoming projects to fund your growth without taking on debt? We were approached by GoBuild to partner with them to tell our readers about their service.

can GoBuild grow business

What Makes GoBuild an Effective Solution for Working Capital Needs?

The GoBuild Payments Product makes it easy for construction business owners to get the funds they need to get jobs done quickly and grow their business. 

GoBuild provides a working capital solution designed around your ongoing and upcoming jobs. That means that, rather than qualifying for a loan or for larger down payments from your customers, GoBuild speeds up your cash flow by using the projects you already have in your pipeline. The program is designed to give business owners in the trades enough capital and cash flow to take on more work and grow their businesses with ZERO debt.

GoBuild 500 down payment

GoBuild starts by helping you to close more clients. On residential or small commercial work, GoBuild lets you offer a simple $500 deposit from your potential client. Down payment costs can cause some clients to hesitate when looking at a project. Using GoBuild to lower this “cost of entry” for clients can help you land more projects while still getting enough upfront cash – up to 65% of the project –  to cover material and labor costs. 

During the project, any substantial change orders can receive additional advances. Once you complete the job, the GoBuild Payments Product ensures that you get paid immediately and not have to worry about collecting payment from the client.

To sum it up, GoBuild ensures you never have to worry about having enough cash to grow.


How Does GoBuild Differ from Other Financing Solutions on the Market?

The GoBuild payments solution is fast and easy to use and quite different from traditional debt lending. With GoBuild, general and sub-contractors can:

  1. get approved and onboarded in just 2 days
    1. begin receiving funding on new and current projects immediately, with up to 65% upfront.
  2. avoid needing to put up any collateral to use the service, and
  3. use the software on a project-by-project basis.

How the GoBuild Payments Product Works

Onboarding + Contract Review

During the onboarding process, GoBuild reviews your existing set of contract documents. In many cases, they add a short addendum that the client signs when agreeing to the scope and price for the job. GoBuild also has easy-to-use in-house base contracts that work well with their GoBuild payment system. Your clients would need to sign an agreement with GoBuild outlining their personal payment or installment plan relative to the work and the services that GoBuild performs on their behalf. This includes assistance in the event of a dispute around any completed work.

Getting Funding from the GoBuild Payments Product

Once fully onboarded, the GoBuild Payments Product lets you immediately start accessing funding for current and future projects.

  1. You submit an estimate for the project
  2. GoBuild gets a signed contract and deposit from the client
  3. GoBuild funds 65% of the project upon contract signing
  4. GoBuild funds against any change orders more than $5k
GoBuild payments platform submit application
submit first project
receive funds milestones

How Much Can I Get Funded from GoBuild?

As part of the onboarding process, GoBuild designates a flexible  “funding cap” roughly equal to your average total project value over the past 3 months. That cap increases based on the length of time you work with GoBuild and how quickly you finish projects. The primary goal is to help you grow your business steadily over time without taking on any debt.

What About Change Orders?

The GoBuild Payments Product understands that things change on the jobsite all the time. They’ve built in a system that flexes to accommodate both large and small change orders as they happen.

GoBuild change orders
GoBuild streamlines and simplifies the entire change order process.

Once you have a signed change order with your client, it gets submitted to GoBuild via email or their online system. GoBuild then updates the payment milestones involving both you and the clients.

You can also take an additional advance based on the change order amount. The same fee schedule applies to advances against any change order. You can even submit signed change orders and get same-day funding.

making online payments checkout
A streamlined checkout process for payments and change orders.

How Much Does the GoBuild Payments Product Cost?

The GoBuild Payments Product works by charging contractors or business owners for using its payments services using a percentage of the job to set its fee structure. Some contractors choose to pass the costs of the GoBuild service on to their clients. You can do this by either including it within the overhead & profit line for lump sum contracts or by adding an administrative fee or ‘payment services’ fee for line item contracts.

GoBuild pricing starts at just 3% per project advance, and they offer custom rates since every job and application is different. They tailor their rates to your business depending on the volume and type of projects. They make sure to keep the rates and fees clear and easy to understand so you can always know and track your bottom line.

Let’s Summarize

General contractors and subcontractors in the new construction and remodeling industry can use GoBuild to grow their businesses by: 

  • Reducing their out-of-pocket expenses
  • Getting more cash upfront to start and finish projects more quickly
  • Increasing the number of projects (and profit) they can take on
  • Reducing their reliance on expensive debt tools like credit cards or business loans

Want more info?

Sign up Now!

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