How ADM Helps with Your Construction Project

Corporate construction projects are often massive undertakings that require significant time and collaboration to complete. Unfortunately, the lengthy timeline of these projects and the number of parties involved creates substantial risk of lost time and money.  

At American Deposit Management [ADM], our cash management solutions help you generate additional income during a construction project while reducing the risk of losses. We start by optimizing your cash management program, then we help you mitigate counterparty risk with key vendors.

Modern Cash Solutions from ADM Provide Safety, Liquidity, and Returns for Project Funds

When undertaking a construction project, your company may have thousands or even millions of dollars in cash set aside. We help you manage these funds with modern cash solutions that are customizable to meet your unique needs. While our solutions are adaptable, a few things stay the same – unparalleled safety, the liquidity you need, and competitive returns for your cash.

We Help Keep Cash Safe While Waiting to Be Deployed

The most important aspect of any cash management plan is safety for your cash. Government insurance from the Federal Deposit Insurance Corporation [FDIC] or credit union equivalent National Credit Union Administration [NCUA] provides the ultimate protection.

Typically, this government insurance is limited to $250,000 per account ownership category at each insured financial institution – which can leave millions in cash unprotected. Fortunately, our deposit management solutions provide access to extended FDIC / NCUA coverage for your entire balance.

Funds Are Available When You Need Them

In addition to safety, your cash needs to be accessible at the right times throughout the construction process. We offer a range of solutions that help ensure your cash is available when you need it.

Our liquid accounts are an excellent choice for cash that is needed in the short term. They offer next-day liquidity along with unparalleled safety and nationally competitive rates of return.

If your cash is needed on a set schedule, we offer government insured CDs that help you earn even more interest. Our team can also create a customized CD ladder to maximize your returns while ensuring cash is available at pivotal moments.

You Can Earn Nationally Competitive Returns for Cash

Our deposit management solutions work by spreading cash across our nationwide network of over 400 financial institutions. These banks and credit unions compete for business cash – allowing you to capture nationally competitive rates of return. In fact, our accounts have generated over 8x more income than the national average money market account since 2022.¹

With our deposit management solutions, the work of managing cash is handled. You can then focus on bringing your construction project to fruition.

Reduce Risk with Business Escrow From ADM

There are three main uses of business escrow services during a construction project. These are buying property, managing builder relationships, and purchasing equipment or other furnishings for the newly constructed space.

All these uses of escrow rely on one thing – a trustworthy escrow agent. This company holds cash, titles, or anything else of value while the respective parties complete their contractual obligations. For your construction project, trust ADM as your escrow agent.

Our Business Escrow Services Help Mitigate Risk During Property Purchases

When buying property, we will hold the purchase funds securely while you complete due diligence. This gives the seller peace of mind that their payment will be available when the time comes to complete the transaction. In turn, the escrow process gives you time to complete comprehensive due diligence without impacting the sale.

Contractor Relationships Are Safer with Business Escrow

Business escrow is also useful after you have purchased the land and are ready to build. In this case, our escrow services help ensure that you get results before the contractor receives payment. If the builder doesn’t provide the services as agreed or the output is not of the agreed upon quality, your funds can be returned to you according to the terms of the agreement.

Business Escrow Helps Ensure Equipment Purchases Occur Smoothly

Finally, our escrow services are useful when purchasing equipment and furnishings for your new space. These services protect you during the transaction and ensure that you get what you ordered according to the agreed upon schedule. If the vendor doesn’t uphold their end of the deal, your investment is safe.

Between deposit management and business escrow – we have the solutions you need to earn competitive returns and reduce risk throughout your project. Our team also supports you every step of the way to help you get the most from your cash.

Succeed In Your Upcoming Construction Project with ADM

When approaching a construction project, you need a partner you can trust to help manage your investment and protect your business. We have vast experience helping companies of all sizes manage these tasks and we look forward to the opportunity to help you too.

Every construction project is unique, and our team is standing by to discuss yours. Contact us today to learn how our customizable solutions can benefit your company.

Sources:

¹ADM vs. FDIC Money Market National Average. Since 2022. Rates taken from the FDIC’s monthly publication of Money Market National Deposit Rates from 2017 through 7/1/2024. ADM Cumulative Interest is calculated using the 30/365 convention with an original investment of $1,000,000.00 and compounded over the number of months in the comparison period. Net rates are actual delivered rates of a sample client account during the comparison period.

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