Alternatives manager Victory Park Capital has provided a $100m (£74.2m) credit facility to Billd, a lender to construction subcontractors.

The facility will allow the Austin, Texas-based firm to expand its financing to commercial construction subcontractors across the US.

Billd provides financing to subcontractors, giving them access to working capital aligned with construction payment cycles. This helps them manage cash flow, take on new projects and grow their businesses.

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“For the past eight years, Billd has pioneered construction working capital as an asset class, focused on bringing subcontractors the best financial solutions in the industry,” said Chris Doyle, founder and chief executive of Billd.

“Victory Park’s expertise in asset-backed finance makes them the right partner to help us scale and bring working capital to subcontractors nationwide.”

Chicago-based Victory Park is a private credit manager specialising in asset-backed finance. It was founded in 2007.

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“Billd has built a differentiated financing platform that addresses a significant and persistent working capital challenge in the commercial construction industry,” said Gordon Watson, partner at Victory Park Capital.

“We are excited to partner with Billd and help support its next phase of growth.”

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