Key Takeaways
- • Victory Park Capital has provided a $100m (£74.2m) credit facility to Billd, an Austin, Texas-based lender to commercial construction subcontractors.
- • The facility will allow Billd to expand its working capital financing to commercial construction subcontractors across the US.
- • Billd, founded roughly eight years ago according to CEO Chris Doyle, provides subcontractors with working capital aligned to construction payment cycles.
- • Chicago-based Victory Park, a private credit manager founded in 2007 and specialising in asset-backed finance, is backing the expansion.
Summary
Alternatives manager Victory Park Capital has provided a $100m (£74.2m) credit facility to Billd, a lender focused on commercial construction subcontractors, according to Alternative Credit Investor. The facility will enable the Austin, Texas-based firm to expand its financing across the United States.
Billd provides financing to subcontractors, giving them access to working capital aligned with construction payment cycles. The company says this helps subcontractors manage cash flow, take on new projects and grow their businesses. Founder and chief executive Chris Doyle said that over the past eight years Billd has pioneered construction working capital as an asset class, with a focus on offering subcontractors the best financial solutions in the industry.
Victory Park, a Chicago-based private credit manager specialising in asset-backed finance, was founded in 2007. Doyle described the manager's asset-backed finance expertise as the reason Billd chose it as a partner to help scale and bring working capital to subcontractors nationwide.
Gordon Watson, partner at Victory Park Capital, said Billd has built a differentiated financing platform that addresses a significant and persistent working capital challenge in the commercial construction industry. He added that the firm was excited to help support Billd's next phase of growth.
The article also references other recent Victory Park transactions, including a tokenised asset-backed credit fund, a $250m asset-backed credit fund with Privacore, and a $100m credit facility to Libertas.
Billd provides financing to subcontractors, giving them access to working capital aligned with construction payment cycles. The company says this helps subcontractors manage cash flow, take on new projects and grow their businesses. Founder and chief executive Chris Doyle said that over the past eight years Billd has pioneered construction working capital as an asset class, with a focus on offering subcontractors the best financial solutions in the industry.
Victory Park, a Chicago-based private credit manager specialising in asset-backed finance, was founded in 2007. Doyle described the manager's asset-backed finance expertise as the reason Billd chose it as a partner to help scale and bring working capital to subcontractors nationwide.
Gordon Watson, partner at Victory Park Capital, said Billd has built a differentiated financing platform that addresses a significant and persistent working capital challenge in the commercial construction industry. He added that the firm was excited to help support Billd's next phase of growth.
The article also references other recent Victory Park transactions, including a tokenised asset-backed credit fund, a $250m asset-backed credit fund with Privacore, and a $100m credit facility to Libertas.
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