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Yes—Michigan general contractors with 620‑679 FICO can get a contractor bridge loan up to $200k, 30‑45 day turnaround, 8‑12% DSCR, no hard pull.

See your rate in 2 minutes—no credit‑score hit

The specifics

Construction Working Capital Loans and Contractor Bridge Loans 2026

• Loan amount: up to $200 000 or 50‑80% of the next contract value.
• DSCR requirement: Usually 1.25× cash‑flow to debt service; for lower ratios, a higher rate or partial equity may be needed.
• Credit threshold: 620‑679 FICO qualifies for fair‑credit terms; 740+ yields the lowest APRs (8–12%) cited in the Avana Capital guide Avana Capital Guide.
• Turn‑around time: 30–45 days, with most lenders offering a soft‑pull pre‑qualification (no credit‑score impact). The Bay Street Lending overview on construction working capital notes a similar timeline for project‑specific loans Bay Street Lending.
• Collateral: Projects that can provide receivable invoices or equipment as collateral often receive 1–3% APR reductions.
• Documentation: recent 3‑year tax returns, GAAP financial statements, current project contracts, and a 6‑month cash‑flow forecast.

Use our affordability calculator to estimate how many days you can comfortably service the loan.

Edge cases

• DSCR < 1.25×: Lenders may require a higher rate or a down payment of up to 20% of the loan.
• Credit score 580‑619: Access is limited and rates can jump to 15–20% APR, as noted on the Cascara blog for high‑risk borrowers Cascara Insights.
• New vs. used equipment: If the bridge loan is used to finance equipment, a 1–2% APR premium applies for used items [SBA guidance].
• Government contracts: Loans tied to federal or state procurement often enjoy lower DSCR thresholds per NASBP reports.

Background & how it works

Construction bridge loans fill the cash‑flow gap that arises when a contractor receives project payments months after material purchase or labor costs. Unlike equipment financing, these loans are secured against project receivables rather than machinery, allowing rapid disbursement. Lenders evaluate the creditworthiness of both the contractor and the underlying contract, focusing on DSCR, contract value, and project schedule. The loan is repaid when the next payment (or the insured sale) is received, plus a modest interest charge—typically 8–15% APR in 2026.

For Detroit contractors looking at equipment financing, see Detroit excavation equipment financing.

Bottom line

Michigan contractors can secure a competitive bridge loan fast—up to $200k with 30‑45 day approval—if they maintain a fair‑credit score (620‑679) and a solid DSCR. Check your rate in seconds—no credit‑score hit.

Disclosures

This content is for educational purposes only and is not financial advice. constructionworkingcapital.com may receive compensation from partner lenders, which may influence which products are featured. Rates, terms, and availability vary by lender and applicant qualifications.

Sources

• Avana Capital
• Bay Street Lending
• Cascara Capital
• SBA (Equipment Leasing Guide)
• NASBP