Results 1 to 12 of 12
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12-20-2022, 11:50 AM #1
- Join Date
- Dec 2021
- Posts
- 215
Government Contract Factoring
Does anyone know a funder that can fund a company that has a Government Contract awarded to them but no invoice yet?
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12-21-2022, 12:31 AM #2
- Join Date
- Oct 2022
- Posts
- 291
If they have the contract won and it is in writing (documented). Then, YES, I have many factoring lenders for you.
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12-21-2022, 09:21 AM #3
- Join Date
- Dec 2021
- Posts
- 215
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12-26-2022, 08:41 PM #4
- Join Date
- Sep 2022
- Location
- Lakewood, NJ
- Posts
- 51
I believe Coral Capital may do it. Do you know which industry and which government and what type of project?
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12-28-2022, 08:37 AM #5
- Join Date
- Dec 2021
- Posts
- 215
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12-28-2022, 08:57 AM #6
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
You cannot factor the contract .....only the invoices once goods are sent, proof of delivery is obtained, and the invoice is sent. Financing government contracts can be tricky. There are very few institutions that provide the service. Live Oak Bank in NC has a government contract finance practice. You may want to reach out to them.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-28-2022, 09:11 AM #7
The definition of factoring is getting cash now for accounts receivable.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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12-28-2022, 09:19 AM #8
- Join Date
- Feb 2017
- Posts
- 3,450
Most brokers I've spoken to talk about "Factoring contracts."
I was inspired a few years ago and wrote about it and put it on my website:
https://www.abfunders.com/line-of-cr...b-contractors/
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01-04-2023, 05:22 PM #9
- Join Date
- Dec 2021
- Posts
- 8
If you did not get a funder yet, I'm pretty sure I can help.
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01-10-2023, 02:07 PM #10
- Join Date
- Jul 2017
- Location
- FL
- Posts
- 35
If this prospect Client now has A/R, then I would be happy to look at the deal.
Feel free contact me.
Our A/R Financing criteria is NOT primarily based on Client credit score, or length of time in business.
Our financing is primarily based on the credit-worthiness of the Customer Account invoiced.
We pay Brokers, recurring residual commissions on A/R Factoring deals paperwork that you send to me, that we fund.
RobertLast edited by ABL Rob; 07-20-2023 at 03:40 PM.
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01-16-2023, 09:26 PM #11
- Join Date
- Sep 2022
- Location
- Lakewood, NJ
- Posts
- 51
PO Financing or government contract financing.
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01-18-2023, 11:04 AM #12
- Join Date
- Sep 2021
- Posts
- 190
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