FOR IMMEDIATE RELEASE

American Subcontractors Association Welcomes Solidus as New Silver Sponsor

Alexandria, Virginia – March 17, 2024 - The American Subcontractors Association (ASA) is pleased to announce Solidus as a new Silver Sponsor. Solidus, a unique lender that provides no-personal-guarantee retention loans and no-cost procurement loans for subcontractors, has committed to supporting ASA's mission of promoting the rights and interests of subcontractors, specialty trade contractors, and suppliers in the construction industry.

Solidus transcends traditional finance, blending over 100 years of team construction experience, a proven $7 billion in project management, and innovative lending solutions to champion subcontractor success and empower subcontractors with ethical financial options.

"We are thrilled to welcome Solidus as a Silver Sponsor of ASA," said Richard Bright, CEO of ASA. "Their commitment to supporting subcontractors and suppliers aligns perfectly with our mission. We look forward to collaborating with Solidus to provide our members with valuable resources and solutions that help them succeed in the construction industry."

As a silver sponsor, Solidus will participate in various ASA events, educational programs, and initiatives throughout the year. They will also contribute their expertise and insights to help shape the future of the construction industry and address the unique challenges faced by subcontractors and suppliers.

"Partnering with ASA as a silver sponsor is a great fit for Solidus," said Jeff Hall, Founder and CEO of Solidus. "We are dedicated to empowering subcontractors and suppliers with the tools and support they need to thrive in today's competitive construction landscape. We are excited to work alongside ASA to drive positive change and create more equitable financing solutions for all stakeholders."

About the American Subcontractors Association
The American Subcontractors Association (ASA) is a national trade association representing the interests of subcontractors, specialty trade contractors, and suppliers in the construction industry. ASA advocates for the rights and interests of its members, provides educational resources and networking opportunities, and promotes fair and equitable business practices in the construction industry. To learn more, visit www.asaonline.com.

About Solidus
Solidus wants to rewrite the playbook for subcontractors. For far too long, hard-money lenders and factoring companies have put a cap on what a subcontracting company can achieve. For many construction businesses, the retention payment accounts for a large portion of their profit margin on the project. Waiting to collect all or part of the retained funds can create cashflow issues for money the contractor has already earned. Our goal is to limit the cost of a retention loan to 1% or less of the subcontractor's cost on the project. Our loans are based on the assets that exist on the borrower's balance sheet. No personal guarantees. And we partner with our clients throughout the entire lifecycle of the project by providing expert guidance and support to help subcontractors stay on track. For more information, visit www.solidusco.com.

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Media Contact
Michael Kline
Director of Communications
American Subcontractors Association
mkline@asa-hq.com