Prime and sub-contractors with government contracts at the local, state, or federal level can now enjoy expedited access to funds with advances from Balanced Bridge Funding.
Small and medium-sized companies can find steady business bidding on leasing, performance, and service contracts from various government entities. However, there are typically delays until payment is distributed on said contracts.
Payout delays can kill your cash flow
Often, it can be 45-60 days or longer before a business can collect on their accounts receivable. Occurrences like holidays, elections, and government shutdowns can slow the process even further.
That’s where Balanced Bridge’s government contract advances can help bridge that gap between payments and provide essential working capital necessary for a business to run smoothly.
Why would someone need to use a government contract advance?
An advance is useful in a cash-flow crunch when funds are needed to help pay business expenses and operating costs. It requires much less paperwork and qualifications compared to bank loans and can be attained in much less time.
A government contract advance is also not contingent on a company’s finances or credit history. Instead, it is based on the creditworthiness of whatever government agency owes the accounts receivable. Therefore, even companies without the best credit histories or financials can still enjoy accelerated access to their funds. In addition, contract advances allow companies to bid on larger contracts that would otherwise be impossible for them to fulfill.
How does a government contract advance work?
- Balanced Bridge needs documentation of your accepted invoice.
- We can advance 80-90% of the total owed and wire funds to you.
- There is a monthly fee for each month the advance is outstanding.
- Once the invoice is paid, Balanced Bridge collects what is owed.
- You receive the balance.
How can I learn more about government contract advances?
For more information, please visit the government contract advance section of our website , where you can learn more about this and the other types of funding our firm provides.
Also, please don’t hesitate to call one of our specialty fiance specialists at 267-457-4540 or email firstname.lastname@example.org to discuss how an advance might help your company. We’re happy to answer any questions and speak more about our funding process and terms.
Written by Richard Heilshorn , Senior Investment Analyst at Balanced Bridge Funding.