BigRentz, one of the nation’s largest online construction equipment rental networks, announced a strategic partnership with fintech firm Billd, giving customers access to financing options designed for construction materials and labor.
In a Jan. 9 news release, the companies said that through the Billd platform, customers receive same-day advances that may be used to hire and make purchases to more efficiently complete projects and accelerate business growth.
For a limited time, new participating customers may also receive their next BigRentz equipment rental free if they are financing more than $25,000 in materials or receivables with Billd.
A recent report from Billd underscored the extent of the financial burdens contractors face, including finding subcontractors, which incurred an additional $97 billion in unexpected material and labor expenses in 2023.
As a result, most subcontractors experienced a decline in profitability, which stymied opportunities for potential business growth. By offering flexible financial solutions and repayment terms, Billd says it is helping firms overcome these hurdles to focus on delivering quality projects and winning new business.
Irvine, Calif.-based BigRentz, founded in 2012, has evolved into a network of more than 6,000 equipment supply partners spanning 13,900 locations nationwide. The company says its digital platform simplifies equipment procurement and project management by offering a self-service equipment rental solution.
The digital interface provides customers access to real-time data and reports tracking costs and budgets across multiple projects.
“This strategic partnership with Billd reflects BigRentz’s commitment to providing comprehensive industry solutions that go beyond equipment rentals, and that address the diverse needs of our customers,” said BigRentz CEO Scott Cannon.
“By working alongside Billd, BigRentz is helping contractors more seamlessly manage their equipment rentals and project finances [to] free up capital and time, which can be used to invest in their companies, deliver quality projects and continue expanding,” Cannon added.
Billd, based in Irvine, Texas, is a construction payment provider for commercial trade contractors and says it has helped thousands of subcontractors across the United States secure working capital to grow their businesses.
“At Billd, we are on a mission to be the ‘Champion of the Sub’ by providing construction-specific financial solutions and partnerships,” said Billd CEO Chris Doyle. “Whether they’re taking on new projects to grow their business or adding new equipment … [our] partnership helps arm subcontractors with the financial flexibility and working capital they need to do great work.”
The Billd partnership comes on the heels of the launch of BigRentz+, a comprehensive solution providing enterprise-level clients exclusive benefits, including preferred fixed equipment nationwide pricing, priority delivery, quarterly business reviews, and dedicated customer service.
For more information, visit bigrentz.com/partners/billd.