U.S. construction is in the midst of a roller coaster of disruption. Demand is surging as a supply squeeze has led to a spike in home prices and work-from-home requirements have professionals investing in renovations.
Meanwhile, supply chain bottlenecks have caused the prices of raw materials like lumber to spike and then fall, while the industry continues to struggle with some of its longest-standing pain points, including the common reliance on paper-based workflows that can create painful B2B payment delays.
Demand for building is on the rise, and these projects need financing, but for construction lenders to juggle the myriad factors influencing borrowing needs and risk profiles is no easy feat.
Land Gorilla CEO Sean Faries said pandemic-related trends have compounded upon factors that have been in the works for decades, all contributing to an environment in which building and remodeling is absolutely necessary, yet continues to face roadblocks….