Sharing Corporate Values Important to Contractor
January 13, 2021
We chatted with David Hubbard, owner of DM Electrical and Construction in Pearland, Texas about how Forward helped his business continue operations despite disruptions due to COVID-19 and the importance of sharing corporate values.
Why were you looking for capital?
We are a small commercial electrical contractor, and we don’t have the big lines of credit that our larger competitors have. Usually our customers pay us 30 to 50 days after we complete a project. So we used the funds to help pay for labor and materials between jobs. While our competitors had big layoffs, we were able to keep our nineteen crew members on staff throughout the pandemic.
How did COVID impact your business?
One of our largest contracts is with the Houston independent school district. When schools closed, they prohibited us from going into the buildings. It was a big revenue loss for us. Also, we implemented strict protocols to ensure our team’s safety. When there were concerns about an outbreak, we closed down for a few days to make sure no one contracted the virus.
What was important to you in determining your financing partner?
Working with a reputable company with similar values as us was very important. Forward gave us a good rate, an easy process free of headaches, and a simple online portal that allows us to track our payment progress.
What was it like working with Forward Financing?
Everyone we worked with was knowledgeable and added value to the experience. When we needed help with making payments, they were flexible, helped us find a solution, and put it in place quickly.It was a quick, hassle-free process. They cared about our business, it’s not just a transaction for them.