Bank Statement Loans for Contractors and Tradespeople in Fort Lauderdale, FL

Numbers behind the work in Fort Lauderdale

In Broward County, 2024 payroll data list 4,593 establishments in specialty trade contractors, with roughly 35,794 jobs and average annual pay near $66,609. That figure leaves out operators who have no employees, who are common among contractors and tradespeople. A location quotient of 1.25 for jobs puts this work above the U.S. norm of 1.0.

Census survey data count approximately 2,106 self-employed people in construction living in the city of Fort Lauderdale. They make up 26.5 percent of the workers in that group and around 14.0 percent of all self-employed residents.

Fort Lauderdale snapshot

Boats and buildings

The marine industry near the Intracoastal and Port Everglades supports boat repair, canvas, rigging and paint shops. Condo and high-rise renovation, new multi-family building and single-family remodels keep general contractors and specialty trades busy.

Homes and prices

On the ground in the city of Fort Lauderdale, the median home is valued close to $487,000, about 36 percent above the Florida median of $359,000; approximately 12.5 percent of units are held for seasonal or occasional use; and half the homes predate 1973. Medians hide a wide range, and the appraisal on the actual home is what tallies.

Reading the payments

Condo associations pay on milestones, and homeowners pay by deposit, progress and final. An underwriter splits out traceable pass-throughs and applies the program's expense factor.

Licenses and insurance

Florida licenses many trades at the state or county level. A license, insurance certificate and a list of routine customers support the file.

Hurricane cycles

Storm preparation and repair create peaks. A lender may ask whether a surge will recurring, so a record of routine clients helps.

Reading the deposits

The median resident of Fort Lauderdale is 43 years old, so first-time purchasers and move-up purchasers both turn up in local files. Many tradespeople run through a sole proprietorship that grew into an LLC. An underwriter reads both periods as one record if the work and the clients are the same. A letter from your tax professional that confirms the dates and the business name change keeps the history continuous.

Against the state and peers

Set against 26.0 percent for Florida as a entire, the 26.5 percent share here is close to the state level. Of 22 comparable Florida areas, it ranks 8th on that measure. At $66,609, average pay is in a middle range, so a typical owner's deposits and expenses both run at moderate levels.

What a reviewer looks for

Subcontractors who work under a general contractor generally receive several large checks and a handful of small ones. The reviewer wants to see who pays you and whether the relationship looks steady. A 1099 from your primary payer, plus invoices for the largest deposits, is a good start.

Common sticking points

Fort Lauderdale is a market where 15.7 percent of workers are self-employed, so the points below come up often. Winter and weather slowdowns are part of many trades. A reviewer who sees a drop in January or after a storm season will not be surprised, but a long gap with no deposits will raise a question. A twenty four month window is usually the better fit for a business with seasonal lulls.

Employers in the work around Fort Lauderdale

Sources: American Community Survey (2020 to 2024) and BLS Quarterly Census of Employment and Wages (2024). Details are on the data sources page.

General information only. Programs vary, and a lender must verify your income and ability to repay. This is not a commitment to lend.

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