Explore the SquareDash Journey: The New Financing Option for Your Roofing Company
In a previous blog, I shared the story of a fictional character named Bob and his “Cash Flow Crunch.”
(Quick recap: While Bob may know plenty about roof installation, his lack of cash flow management and financing options cost him his business.)
Financial management is the heartbeat of any successful enterprise; without it, your roofing company just won’t survive.
That’s where SquareDash can help.
I will give you more details about SquareDash—the fintech platform that painful experiences like Bob’s (and mine) inspired. A simple, fast capital roof financing option that doesn't require a good or excellent credit score.
You’ll find out everything you need to know about this ground-breaking payment solution. I’ll explain what it is, why it’s right for you, and how to use it.
SquareDash Explained: Financing for Roofers Done Right
Application Designed for Roofing Companies to Streamline the Payment Process
SquareDash is a VC -funded, early-stage FinTech serving the Roofing and Restoration Industry. Founded by roofers, for roofers.
When creating the platform, we established two guiding principles: It had to be fast, and it had to be easy to use. As contractors ourselves, we knew that nobody had the time or desire to learn and use a complicated system. We needed new roof financing options.
Thus, SquareDash is the payment solution built by roofers for roofers. It’s a faster way to get paid with claim funding while collecting payments online.
Solving A Roof Financing Problem Contractors Understand Too Well
Have you ever secured a roofing project only to get hit with late payments? We all have. If you’re in roof repairs getting paid through insurance claims, you know well that the system is broken.
Here are some of the problems we face:
Credit Scores / Credit Score Requirements:
When it comes to credit score requirements or lower credit scores, it limits access to favorable financing options and delays project funding.
Fixed Rate Loans / Variable Interest Rates / Interest Rate:
High fixed or variable interest rates can increase the overall cost of financing. That can impact profit margins, making it challenging to repay loans quickly.
Loan Term:
Long loan terms create extended payment periods. It affects the speed at which contractors can recover project costs from roof repairs and reinvest in new projects.
Credit Limits:
Low credit limits may restrict the amount of funding available, causing roofers to seek additional financing or delay projects until funds for roofing costs are paid.
Loan Offers / Loan Amount:
Inadequate loan offers, incorrect assessment of the entire loan amount, or insufficient funds can lead to project delays and hinder the ability to get paid promptly.
Insurance Provider:
Delays in processing insurance claims or disputes with insurance providers also impact the timing of payments for roofing projects.
Origination Fee / Origination Fees:
High origination fees can increase the upfront costs of financing. This reduces the immediate cash flow available to contractors to work on a roof repair or building a new roof.
I’ve had to wait 90 days, sometimes more, to get paid. If cash flow is not optimized in your business, you won’t see long-term success.
That’s why roofers need to finance claims fast. With SquareDash, you’ll be receiving the ACV check before you start work and the Depreciation within 2 days of job completion.
What Kind of Contractors Need SquareDash?
If you are a roofing contractor and work with insurance claims , this is for you!
You’re not just doing roof replacements or property damage restorations for your health. You’re growing a business. And if you grow too fast (like I did) without a sound foundation for managing finances, you sink.
The Advantages of SquareDash
Processing Claims Faster
In only 1 to 2 days, you’re on to your next project while paying your workers and vendors in real-time.
SquareDash is the fastest way to get the funds on claims, period—no need to wait on mortgage companies for paper checks to arrive, and no time spent driving around town to pick them up.
What Makes SquareDash Different from Other Finance Alternatives: Line of Credit vs. Cash Advance
Are there other financing options out there? Of course, there are. But I can tell you from experience that they’re bear traps.
For example, when it comes to opening a credit line , it takes a lot of work to get. The bank will make you present your credit score which needs to showcase a good or excellent credit history and cash flow. But, we can’t easily present a consistent inflow of cash since our work can be heavily seasonal.
How about merchant cash advantages? Again, good on paper, but you may get money fronted with a fixed interest rate of around 60%! These are horrible repayment terms. You’ll also be forced to deal with monthly payments, even weekly or daily.
With SquareDash, you’re bypassing the bullsh*t and getting right to the good part—cash in the bank. Now, you can pay off debts, search for more job leads and territory, and finally get the space to scale your business.
You get paid, your workers get paid, your clients receive their roofing project, and everyone wins!
How Roofing Companies Can Use SquareDash and Get Funds Now
Now for the meat and potatoes. How do you use SquareDash?
The user experience is very simple. All you have to do is upload your scope of loss PDF, select the items you will be completing, send the homeowner a link to pay their deductible, and then just click “Get Paid.” That’s it!
Step-By-Step Visual Guide
Here’s a visual rundown of how simple it is to get funding in 1-2 days through SquareDash.
- Upload the scope of loss PDF from the insurance carrier.Send the homeowner a link through which they can pay their deductible.
- Once the deductible is paid and the ACV invoice is approved, you’ll have money in your account in just 1-2 days.
See it For Yourself
Seeing is believing. That’s why we’d love to give you a live demo of our platform so you can see for yourself how easy it is to solve your cash flow issues once and for all.
Just choose the best time for a demo, or email me to discuss your specific needs.
How SquareDash Revolutionizes Cash Flow Management for Roofing Contractors
SquareDash solves the cash flow crisis so many contractors face by shortening the payment process. Get your next project, roofing materials, and finances in hand, fast, with a system that:
Streamlines cash flow for roofing companies
Get paid in only 1 to 2 days. By eliminating the need for paper, you also save time on having to travel to pick up checks and focus on the core aspects of your business.
Simplifies the user experience
Work with an intuitive dashboard specifically designed for roofing companies like yours. Simplify the payment process by requesting and receiving payments with just a few clicks.
Improved processes and resource management
It takes money to make money. When you get paid on time, you’re not only on your next project, but you immediately have the capital to move around to conduct more business.
Increased job success
Pay workers on time, purchase materials, and satisfy your clients' roofing needs faster than the competition.
SquareDash is a veteran-owned financial services company based in Fort Worth , Texas. Our proprietary FinTech platform is solving the cash flow crisis for contractors around the U.S. who deal with insurance claims. Learn more at SquareDash.com