Who we fund.
A transaction qualifies when the project, the invoice, and the borrower all clear the screen.
Subtrade Capital Corp. finances statutory holdback on bonded work for established trade subcontractors. Use this page as a self-check before you apply. A fit on paper still requires underwriting. A clear miss here saves everyone time.
Borrower profile
Trade subcontractors, not generalists.
We look for established subcontractors with:
- Indicative annual revenue of $2 million+
- Clean lien and litigation history (material open fights are a problem)
- Comfortable with assignment, PPSA, and additional collateral as required
If you are below the $2 million revenue threshold or still ramping your first bonded project, say so in the application. We will tell you honestly if timing is early.
Project and sector
Bonded projects.
In scope
- Industrial, commercial, and institutional building construction
- ICI-like oil & gas midstream and infrastructure (pipelines, processing, compression, LNG, terminals, storage)
- Performance and labour & material payment bonds from a recognized surety
- CCDC (Canadian Construction Documents Committee) or CCDC-like contract form with statutory holdback withholding and lien rights intact
Out of scope today
- Unbonded projects (full stop)
- Residential construction
- Upstream oil & gas (drilling, production wells, reclamation)
- Work that is still WIP, estimated, or unbilled
Bonded means the project carries performance and labour and material payment bonds from a recognized surety, typically arranged by the GC or owner. You, as the subcontractor, do not need your own bond. We want to see that the project itself is bonded at the GC or owner level.
Invoice and asset standing
Completed. Invoiced. Paid. Undisputed.
Every advance sits against holdback that has already commenced:
- Work behind the invoice is complete
- A proper invoice has been submitted to the GC
- The GC has paid the amount owing less the amount retained for the statutory holdback
- No notice of non-payment, set-off claim, or adjudication dispute is outstanding on that invoice
We never advance against work in progress.
Quick fit checklist
Before you apply, confirm you can say yes to most of these.
- Bonded project (performance + labour & material payment bonds)
- Not residential or upstream oil and gas
- Holdback is attached to a proper invoice that has been submitted and paid.
- No open payment dispute on that invoice
- Comfortable with assignment, PPSA, and additional collateral as required
- Company has roughly $2 million or more in revenue
If several boxes are unchecked, describe the situation in a short application. We will say if an application is premature.
Pricing
Terms after we see the file.
If a file clears underwriting, we put terms in a term sheet. Public pages do not publish advance rates or fees. Ask us once we have enough project and invoice detail to talk specifics. Subject to underwriting.