February 2, 2024
4 min read

What Are the Alternatives to SquareDash?

Matt Fruge
Founder and CEO
You know those crash test dummies they put in cars to test their safety? That was me a few years ago—but instead of running into walls at 40 MPH, I was testing out all the worst possible ways to finance my (very successful) roofing business.

I got smashed to pieces so you don’t have to. You’re welcome!

So, what did I learn from these painful forays into financing options? As a roofer or restoration contractor, the broken insurance payments system has traditionally given us two options: lines of credit and merchant cash advances.

The problem with lines of credit.

On the surface, a line of credit looks like a good option. But in my experience they are hard to get. Very hard. In my case, the bank wanted two years of supporting financials that showed consistent cash flow. But you and I both know that for roofers, income is both seasonal and inconsistent—mother nature, unfortunately, doesn’t work on our schedule. At the end of the day, my bank was only willing to extend me a credit line of $150k. Not gonna cut it.

But wait. It gets worse!

If you think lines of credit sound like a problem, wait until you hear about merchant cash advances. (We might need some music for this one.) MCAs are … how do I put this … right up there with kidney stones on the pleasantness scale. But it’s like having kidney stones every single day. You sell your future receivables, and yes, they’ll front you some money—at rates as high as 60%. Did I mention they want weekly and even daily payments? My brief experience with MCAs was the closest I ever came to going completely out of business.

Ready for some good news?

The mistakes I made with my business inspired me to create SquareDash—the fintech platform that’s helping roofers and restoration contractors affordably boost their cash flow and grow their businesses. Just upload an approved insurance claim to our platform, and once your homeowner has paid their deductible, we’ll transfer the ACV to your account in 1-2 days.
And when the job is complete, you’ll get the depreciation payment in 1-2 days.

Let me show you how it works.

We’d love to give you a live demo of our platform so you can see for yourself how easy it is to get paid faster, and get back to growing. Just reach out through the website to schedule a demo, or email me to discuss your specific needs.

About SquareDash

SquareDash is a veteran-owned financial services company based in Dallas, 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.

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