Timely payments to general contractors and subcontractors reduce project risk, added costs, and delays. Rabbet’s 2022 Construction Payments Report dives into what happens when those payments don’t arrive on time... Read More
Contract Simply is now Rabbet
Today we introduce Rabbet. As our technology, customer base, and team evolved, it became increasingly clear that we outgrew the name Contract Simply. We needed an identity that better captures the value we provide today and gives us room to guide in the vision we have for the construction finance industry.
As a rabbet strengthens connections in woodworking; Rabbet strengthens connections in construction finance.
We invite you to read on for more about why we rebranded.
We don’t do contracts. Construction finance isn’t simple.
In the US, contractors finance 54 days of accounts receivable — the longest of any industry. One of our founders, a former licensed contractor in the D.C. area, saw too many contractors struggle under this financial burden and started Contract Simply with a mission to help these small businesses. Contract, a platform to benefit contractors, and Simply, making the loan financing process simpler.
We quickly realized three critical things.
- Lenders and developers own a large share of the time and administrative burden that goes into construction finance.
- Accounts receivable is a huge burden on contractors and presents a huge opportunity for construction lenders.
- The industry needs more than a tool to simplify the process; the construction finance industry needs a platform to manage complex information, automate manual processes, and connect people.
Relationships are at the core of construction finance.
Construction finance is an industry where relationships and people underscore transactions and process. Our platform is designed to remove all friction from transactions and process so people can focus on strengthening relationships.
Brand is not only our reputation with existing and potential customers, it is also a promise we are making to the construction finance industry and to ourselves as a company. Our brand values guide how we approach the market, what we decide to build into the product, who we seek to join our team, and how we communicate.
These are our commitments to you:
Solving inefficiencies motivates us. Through intelligent automation of the construction finance process, our platform eases administrative burden while improving accuracy — speeding payments for all involved. We are passionate about helping lenders and developers get more done in less time.
We value transparency both internally and externally, serving as true partners to earn and keep your trust. What’s more, we exist to provide a transparent and accurate view into a previously opaque and confusing process. Transparency is how we demonstrate active honesty.
Relationships are at the core of why we operate — with data, with each other, with our customers, and for their customers. We work to be the best version of ourselves — to be known for our collaboration, reliability, and authenticity. These relationships form a series of connections that amplifies the value we create.
We commit to our customers — and the construction lending industry as a whole — to walk side-by-side through the continual evolution of the construction financing process. We combine deep domain expertise and true technology to bring forward innovation in construction finance.
Mobilizing the Connected Construction Economy.
Imagine construction finance without spreadsheets, PDFs and emails. A state where information is immediately verifiable and accessible. Decisions are made confidently. Standardization creates shared expectations for lenders, developers, and contractors. This is the Connected Construction Economy. A place where construction finance transactions occur without friction.
We aim to continue to build the digital infrastructure to strengthen relationships among lenders, developers, and other real estate stakeholders.
Thank you to the customers, investors, and team members are helping us make this vision a reality. Please take a look around the new website. We look forward to hearing your feedback!