[Shokunin_America]

My client, an architect and demolition contractor by trade, received an award letter/blanket purchase order with the USDA’s Forest Engineering Road Maintenance (FERM) division.

These are repair and preventative maintenance assignments to reduce forest fires or deal with the aftermath. Because it is a blanket purchase agreement, the sizing of the invoice can be difficult as it can range from $25K to $500K and then have recurring add-ons because of what they find on-site.

This guy hit the jackpot as there are only 3-5 approved contractors in each region of the State of California. There are lots of fires out here, so he will be busy.

The client would need to mobilize subs and rent large equipment, etc to complete the jobs and needs cash flow to start in order to make it happen as it might take 30-60 days to get paid from the USDA.

We're talking to his home bank, but they're been slow to respond.

Contract receivables are difficult to get past underwriting with the Republic's or Celtic's of the world given the repercussions of not completing the contract and the risk of not collecting on receivables that they potentially are lending on. This is a large scope of an award that the Company received and most cannot get comfortable with it.

I'm trying to avoid SBA7(a) as it's such a long process and he's ready to submit for his first project.

Any thoughts?

[Olderguy]

I may have a guy...will advise..will have Elon reach out....I have a bank that can do SBA in 25 days..so a bit confused. Either one of us can probably help. Maybe even a stacked $250K LOC?

[Ehenek]

What exactly are you interested in? I am very confused here. The USDA loans take even longer than an SBA lol! Please send me a DM message I have experience with bothe SBA and the USDA

[Shokunin_America]

The USDA is a contract, not a loan.

[Ehenek]

USDA
Rural Business - Cooperative
Programs
Purpose


Amount of Assistance
Fees
Eligible Applicants


Eligible Areas


Authorized
Use of Funds


Rates & Terms

Equity
Required
Important key points to know
Business & Industry Guarantee

B&I Guaranteed Loan
Provide an incentive for business lending that will save & create jobs in rural areas 80% loan guarantee

Loan max
$25MM

(Co-Ops can go up to $40MM) G-Fee: 3% at closing

Construction LNG Fee: 0.50% at closing

Renewal fee: 0.50% Lender applies on behalf of:

For Profit
Non-Profit
Cooperative
Public Bodies
Tribes Areas outside the urbanized edge of cities of >50,000 population Real estate

Machinery & equipment

Working capital,

Refinancing Rate variable or fixed – determined by Lender.

Term Max:
30 Yrs
Based on use of funds or collateral Existing Bus: 10%

New Bus w/sales contracts: 10%

New Bus with Construction: 25%

New Bus no construction: 20% Business must have strong equity & collateral.

[JoeSIY]

If credit file is in good enough standing, I can definitely help with traditional banking and credit products
Feel free to reach out if interested.
Joseph Zafir 754-610-2148
yossi@siysolutions.com

[omegafund]

My client, an architect and demolition contractor by trade, received an award letter/blanket purchase order with the USDA’s Forest Engineering Road Maintenance (FERM) division.

These are repair and preventative maintenance assignments to reduce forest fires or deal with the aftermath. Because it is a blanket purchase agreement, the sizing of the invoice can be difficult as it can range from $25K to $500K and then have recurring add-ons because of what they find on-site.

This guy hit the jackpot as there are only 3-5 approved contractors in each region of the State of California. There are lots of fires out here, so he will be busy.

The client would need to mobilize subs and rent large equipment, etc to complete the jobs and needs cash flow to start in order to make it happen as it might take 30-60 days to get paid from the USDA.

We're talking to his home bank, but they're been slow to respond.

Contract receivables are difficult to get past underwriting with the Republic's or Celtic's of the world given the repercussions of not completing the contract and the risk of not collecting on receivables that they potentially are lending on. This is a large scope of an award that the Company received and most cannot get comfortable with it.

I'm trying to avoid SBA7(a) as it's such a long process and he's ready to submit for his first project.

Any thoughts?

Looks like he has to rent equipment so no collateral on this merchant. Hopefully one he has good credit for one of the bank financing products. Get a bank or partner.

[NickHubbard]

My client, an architect and demolition contractor by trade, received an award letter/blanket purchase order with the USDA’s Forest Engineering Road Maintenance (FERM) division.

These are repair and preventative maintenance assignments to reduce forest fires or deal with the aftermath. Because it is a blanket purchase agreement, the sizing of the invoice can be difficult as it can range from $25K to $500K and then have recurring add-ons because of what they find on-site.

This guy hit the jackpot as there are only 3-5 approved contractors in each region of the State of California. There are lots of fires out here, so he will be busy.

The client would need to mobilize subs and rent large equipment, etc to complete the jobs and needs cash flow to start in order to make it happen as it might take 30-60 days to get paid from the USDA.

We're talking to his home bank, but they're been slow to respond.

Contract receivables are difficult to get past underwriting with the Republic's or Celtic's of the world given the repercussions of not completing the contract and the risk of not collecting on receivables that they potentially are lending on. This is a large scope of an award that the Company received and most cannot get comfortable with it.

I'm trying to avoid SBA7(a) as it's such a long process and he's ready to submit for his first project.

Any thoughts?

Check out Mobilization Funding | https://mobilizationfunding.com/

[CRElender]

A common misconception is that SBA lending is a long process. My group is one of the nation's largest SBA lenders and we can close as quickly as 30 days. Unfortunately, we don't offer SBA 7a working capital loans, just SBA CRE-secured loans.

Keep me in mind for future SBA 7a deals as a direct, SBA lender.

[Ehenek]

I am very interested in this. Sounds like my type of file!

[Olderguy]

I am very interested in this. Sounds like my type of file!

Posted 8/2/2023 Elon get back on your meds.

[Ehenek]

Steve, seek life elsewhere! Stop being a daily funder ****.

[Olderguy]

Steve, seek life elsewhere! Stop being a daily funder ****.

Supplying holy water to the thirsty....

[Ehenek]

scorpion and the frog

[Olderguy]

scorpion and the frog

Dat true...