Balanced Bridge Funding can provide financing to government prime and sub-contractors at the local, state, and federal level on their government contracts.
“A government contractor waiting on payment on their contract is going to need an alternative option to access funding,” says Joseph Genovesi, President and Chief Investment Officer of Balanced Bridge Funding. “Traditional lenders like banks and credit unions are unable to provide financing without performing months of due diligence, which can add additional stress to the contractor’s operations.”
At Balanced Bridge Funding, we understand how hard it is to obtain a government contract and the long delays contractors must contend with to get compensated for their work. It is well-known that companies who have been awarded contracts by government agencies wait an unforgiving amount of time for their invoice to crawl through the bureaucracy before they finally receive payment.
Through our government contract funding program, we are able to provide an advance to a company with a guaranteed contract from a government agency at the local, state, or federal level. Balanced Bridge Funding is able to assist prime contractors, sub-contractors, minority and women-owned enterprises (MWBEs), suppliers, and other business owners, with financing on their government contracts.
Benefits of Our Government Contract Financing Solution:
- Balanced Bridge Funding is a direct funder of government contract advances.
- Your application will be handled by underwriters who are familiar with contract advances.
- Once your application is received and all relevant documentation is submitted, you can receive your advance within a matter of days.
Our Government Contract Advances are NOT Loans
Unlike a loan, our advance acceleration solutions provide you with expedited access to your unpaid funds. Once we provide you with an advance, we are paid directly from the government agency with whom your company has the contract. You won’t have to touch your personal accounts.
A unique aspect of our government contract funding program is we accept all risk of non-payment from the government agency!
Different Types of Government Contract Advances we Finance
Financing for Contractors with the United States Federal Government: Operations & Maintenance Funding
The United States government is the single largest purchaser of services and goods in the world. Every year, over $400 billion is spent on these purchases, which means a great deal for businesses seeking to obtain government contracts. Though there are certain Federal expenditures which entail specific appropriations, it’s important to note that a significant portion of federal spending each year flows from “Operations & Maintenance” (O&M) funding.
In short, government agencies have an official order to facilitate work with small businesses and businesses alike. And in the interest of productivity, Congress has enacted many laws enabling Federal agencies to use O&M funding in the most perceptive ways possible. The use of leasing, performance contracts, and service contracts are included within the spectrum of O&M funding. Such contracts enable Federal agencies to avoid large up-front costs for goods and services by making periodic payments over time, while simultaneously fulfilling business needs for those binded with a government contract.
Funding for Contractors with State & Local Government Contracts
State and local governments across the U.S. are large, repeat purchases of goods and services. As such, these government institutions are desirable customers for any company. However, certain government programs involve compensation or reimbursement over time.
Balanced Bridge can help government contractors by financing the value of their contracts in advance of receipts from the government.
Since some contractors cannot easily operate under the financial pressures placed on their cash flow and balance sheets by installment payments, financing with Balanced Bridge actually facilitates doing business with government customers. With solid financing programs in place, companies seeking to win business from the government are able to bid more aggressively, confident in the knowledge that they will have the financial wherewithal to deliver on a contract on terms conducive to the company’s success.
Foreign Government Contract Funding
Foreign governments who work toward promoting export trade and expansion of home-grown industries into overseas markets will frequently seek to underwrite major infrastructure projects or commercial manufacturing facilities. Under certain circumstances, many foreign entities may partner with private sectors, including companies based in the U.S. to ensure their projects are being completed in a timely and efficient manner.
These projects will require significant upfront capital investments while the benefits that flow from such investments are realized over time. Balanced Bridge can provide funding to contractors with foreign government contracts to aid in the financial demands that need to be met.
To facilitate such transactions and ease the financial pressures on government contractors, Balanced Bridge can provide funding to foreign governments contractors to support them in following through with a successful project.
How to Apply:
If you have a contract with a government agency at the local, state, or federal level and would like an advance, please call and speak to one of our specialty finance experts at 267-457-4540. Or CLICK HERE to fill out our quick form application.