How StruktureOne Uses Billd to Combat Long Lead Times and Retain Their Most Valuable Customers
StruktureOne Group faced substantial lead times that required them to float the cost of materials long before a project started. They also dealt with inflexible supplier terms and credit limits, as well as volatile material prices. This made it difficult to manage and project cash flow. Billd worked with StruktureOne to create a custom financing solution that provided longer payment terms, made project lead times easier to manage, and allowed them to take on bigger projects with their best customers.
“Having Billd in our corner made us more bullish on chasing projects.”
Michael Herndon & Jarred Craddock | Founders
The Challenge
Long Lead Times
Material lead times for steel spanned 12–16 weeks, but invoices came due at 30 days — long before materials ever arrived on site. StruktureOne was constantly fronting the cost of materials they hadn't yet received.
Payment Delays
GCs were taking 45–60 days to pay, sometimes stretching past 90 days. The cash flow constraints this created made it nearly impossible to bid on larger projects. "As you're growing, you're constantly behind the ball. It feels like you're always pushing cash around," the founders said.
Inflexible Supplier Terms
StruktureOne works with multiple suppliers across Texas, Kentucky, Tennessee, and Alabama — each with varying terms or no terms at all. This made cash flow planning across projects extremely difficult.
Pricing Volatility
Volatile steel pricing meant their estimates could be off by the time materials were actually purchased, further compressing margins and making it hard to price jobs with confidence.
The Solution
StruktureOne needed to find new ways to manage their long payment and lead times. An industry peer put them in touch with Billd, where they learned about material financing. Billd created a custom financing solution for StruktureOne, which gave the company financial flexibility that supplier terms couldn't. They had more time to pay for the materials on a project, reducing the pressure caused by their long DSO.
"It made our lives a lot easier as far as being able to better manage cash flow on certain jobs," they said.
Material financing also let StruktureOne start to work with suppliers they were unable to use previously due to insufficient terms. Billd made it so that the supplier's terms limitations didn't matter. The ability to work with a wider array of suppliers bailed them out of schedule pinches and helped them deliver on time, every time for their customers.
StruktureOne Group is an Austin-based steel subcontractor founded in 2016. Focused on metal building structures and design-build projects, StruktureOne began working with Billd in 2022. We spoke with Michael Herndon and Jarred Craddock, the two founders of StruktureOne Group, to get their perspective on how working with Billd has changed their business.
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Working with Billd gave StruktureOne the financial foundation to retain their best customers and grow.
Working with the right suppliers has had a long-term impact on their ability to retain their best customers. They no longer have to compete for work with certain GCs because they already have a reputation for taking care of them — thanks in part to Billd. Additionally, they have the financial security to continue to bid on more numerous and larger projects, helping them build new and stronger GC relationships.
Their simple advice to subs who are considering Billd: "Just do it," they said. The financial backing of Billd is a game changer in an industry where banks are reluctant to lend or extend lines of credit. Having someone like Billd in your corner just makes sense; they said it lets you chase projects you may not normally feel comfortable chasing. According to the StruktureOne team, Billd understands the importance of financial flexibility in this industry, helping subcontractors deliver on projects and win the work they want.
"Having Billd in our corner made us more bullish on chasing projects." — Michael Herndon & Jarred Craddock, Founders