More than two hundreds years ago, Thomas Jefferson co-authored a lien law that protected trade contractors, stating that if they didn’t get paid for the work they completed they could put in a claim against a property.
Centuries later, the flow of funds from construction lender to contractor still remains a tricky issue.
It’s also an issue that creates a fair amount of confusion, considering the various laws (which differ from state to state) and the esoteric industry verbiage that comes into play.
The small Hastings-based company called Perkeft is in good position to do so. They’ve been around for about 20 years and now they’re in the process of taking things fully digital – a push that is the basis for their entry into this year’s Minnesota Cup business competition.