David Anderson has been a carpenter since he could hold a hammer. Now, with help from the Community Loan Fund, he’s building up his company, Anderson Construction.
Anderson learned the carpenter trade from his father and uncles. In fact, he started working right alongside them when he was 12 years old. He went on to attend Hudson Valley Community College, where he graduated with a degree in Human Resources. He holds OSHA, RRP, and HAZWOPER certifications and is a member of the Carpenter’s Local Union 291.
Anderson founded his own construction company in 2018. Since then, he has grown from four employees to six.
Construction is big business, but it also takes a big investment.
This week, Anderson Construction Company closed on a loan to help with labor expenses related to several construction jobs on the horizon. Anderson Construction is a certified MBE (minority-owned business) with years of experience working in the Capital Region. They focus primarily on residential and commercial remodels wanted to expand.
Anderson wanted to bid on larger jobs, but, as the saying goes, ‘You have to spend money to make money.’ A revolving line of credit from the Loan Fund will help Anderson Construction cover labor expenses related to a large affordable housing project they have just been awarded. The project will take place in several phases, and could include as many as 89 new units. It’s a great addition to their portfolio, and could help them scale up for future projects.
The Loan Fund is happy to be assisting local construction companies build their business. Anderson is the latest in a list of construction businesses who have been assisted by the Community Loan Fund’s new Jobsite Financing program. The Jobsite Financing program provides a revolving line of credit for minority and women-owned contracting businesses to help them build capacity.
“We know that a lot of work and investment goes into construction projects before payday ever arrives, and that this can take a toll on smaller firms or firms that are just trying to get off the ground,” says MacFarlane. “Funds from this revolving line of credit will enable them to cover their expenses, so they can get back to work – building the Capital Region.”