Northeast Florida Construction Accelerates Growth With Working Capital Loan

Jacksonville-based construction firm secured $450K working capital loan to expand equipment fleet and staffing, increasing project capacity by 40% and revenue by $2.3M annually.

Quinton Jacobsen, President & Chief Operating Officer of Northeast Florida Construction Inc a construction business in North Florida standing with a calm, assured presence

Executive Summary

Northeast Florida Construction Inc, a Jacksonville-based general contractor, faced significant growth constraints despite consistent demand for their services. The company secured a $450,000 working capital loan to address cash flow timing issues and fund operational expansion. This strategic financing enabled the firm to capture larger commercial projects and increase its competitive market position.

The Challenge

Cash flow timing gaps between project expenses and client payments created bottlenecks in bidding on larger contracts
Limited equipment inventory prevented the company from managing multiple large projects simultaneously
Inability to meet payroll on time during slow billing cycles restricted hiring of skilled trade workers

The Solution

Northeast Florida Construction recognized that their financial constraint wasn't a lack of business opportunity, but rather insufficient working capital to fund ongoing operations while waiting for client payments. A $450,000 working capital loan provided the liquidity needed to operate at scale without relying on personal guarantees or depleting owner reserves.

The funds were strategically deployed across three key areas: $180,000 allocated toward purchasing essential equipment including excavators and concrete finishing machinery; $150,000 designated for payroll and staffing expansion, bringing on 12 additional skilled carpenters and equipment operators; and $120,000 retained as operational reserve for material purchases and subcontractor payments. This allowed the company to maintain steady cash flow throughout project cycles and confidently bid on contracts worth $500K-$2M.

Quinton Jacobsen, President & Chief Operating Officer
"This working capital loan was transformational for our business. We could finally bridge the gap between project expenses and client payments, allowing us to bid on larger contracts we'd previously had to pass on."

The Outcome

Revenue increased 87% from $2.65M to $4.95M within 18 months of loan origination
Project capacity expanded by 40%, enabling simultaneous management of 8-10 active projects versus previous 5-6
Equipment utilization rates improved from 62% to 89%, generating $385K in additional equipment rental revenue

Conclusion

The working capital loan fundamentally transformed Northeast Florida Construction from a company constrained by cash flow limitations to one capable of pursuing significant growth opportunities. The firm's improved financial position attracted larger commercial clients and positioned them as a reliable contractor for mid-market general contracting work.

Looking Forward

With strong cash flow now established and a track record of successfully managing larger projects, Northeast Florida Construction plans to open a second satellite office in the Tampa Bay area within 12 months. Management is also exploring specialized service lines in commercial buildouts to further diversify revenue streams and reduce project cyclicality.