Business Loans for Engineering Services

As a part of the construction industry, engineering companies have had their fair share of challenges in the last decade or two.  Between rising costs, new specializations, and constantly changing demands and regulations from both clients and governments, engineering is not nearly as straightforward as it once was.  While there is still plenty of demand for engineering services, navigating these rocky business waters can be challenging.  Here are some of the ways we can support your engineering business’s financial health:

Personnel

An engineering firm is only as capable as the engineers it employs.  While engineering was once a commonly sought degree by America’s best and brightest students, increasing diversity both in the engineering field and in high-paying fields in general has led to a decrease in the number of new engineers available.  It is imperative that your business continue to grow and modernize, however, and hiring young, capable engineers can be a big part of this.  If you need a little financial boost to be able to offer new talent a competitive salary, give us a call.  We know they will more than pay for themselves in the long run, so we are more than happy to help you offer the right compensation packages to attract them to your firm.

Technology

The tools that an engineer uses have changed drastically over the last decade.  Building information modeling is now available to and used by even the smallest engineering firms.  Newer technologies such as drones to inspect job sites and 3D printers to model designs are seeing more and more use in engineering offices as well.  While these technologies can greatly increase your firm’s productivity and efficiency, they require a significant initial investment.  Don’t put off moving into the future for financial reasons - call us today for a customized loan to help propel your business forward.

Going Green

With the global push to protect our planet, many engineering firms are facing new costs as they transition to green building practices.  LEED certifications for new buildings are becoming a common requirement, requiring engineers to receive new training to meet new building standards.  Many firms are also investing in new technologies to reduce their own carbon footprints.  While these are worthy endeavors, they do not come without a price tag.  Whatever measures you are taking to protect the planet (not to mention meet your clients’ needs), we are here to support you financially.  Give us a call to see how some extra green from us can help you go green!

The need for quality engineers is not going anywhere.  The industry is changing, however, and some firms may not have the working capital available to keep up with the demands.  Before you decide it might be time to transition into early retirement, call us.  We are experts at matching business funding with business needs in even the most turbulent industries, and we are certain we can find a solution to keep you in the field for years to come.

Ready to apply for a business loan?  Our loan advisors are here to help!