Success Stories
Department of Defense ("DoD") Contracts can mean big business, but only if you have enough working capital.
A DoD Contractor, who rebuilds truck engines, lacked the working capital to meet the demands of both his Government Contracts and commercial business. His lender was unable to fund the Government Assignment of Claims and could not keep up with his growing demand for financing.
Fortunately, the Contractor's loan officer suggested he give Government Finance, LLC ("GovFin") a call. GovFin worked through the details of his case, including the DD250 requirements, and advanced him the $8 million to complement his existing line of credit. This quick response by GovFin led to repeat business when the next time-sensitive opportunity arose. Satisfied with the Contractor's previous work the U.S. Army Corp of Engineers ("USACE") requested his help securing generators in the aftermath of a hurricane. Immediately, the Contractor called GovFin, who began financing transactions hourly. GovFin did everything it could to assist the Contractor in getting the generators, including faxing the required USACE forms on his behalf. In an emergency, GovFin is there to help.
Landing an ongoing Government Contract is exciting - figuring out how to pay your employees may not be so exciting. Luckily, there's help.
An established, minority-owned employment service company was awarded a contract to supply a local Military base with kitchen staff. The owner won the bid, in part, based on her reputation and ability to create jobs for members of the community. She felt the company had ample cash flow to meet its weekly payroll and abide by the monthly invoice terms of the Contract. However, within a few months, the Military base required additional assistance. This caused the employment service to hire more workers than originally anticipated. Working capital was stretched thin and the employment service had difficulty making its weekly payroll. Worse yet, the owner痴 reputation among her clients, workers and community were in jeopardy. Her company needed funds quickly.
Her local banker arranged a conference call that Monday afternoon. After listening to her needs, GovFin worked with her to create a solution. GovFin advanced $3 million on the earned, unbilled portion of the receivables within 48 hours. The advance enabled her to pay her employees that Friday. The owner's reputation grew, as did her client list.
Opportunities of a lifetime are only available if you can execute.
A startup distributor of electronics received the opportunity of a lifetime. Through a military supply sourcing agent, the company secured an order for a 'Black Friday' promotion. However there was a catch: failure to deliver the goods on time would result in a cancelation of the contract without recourse. The distributor needed $15 million to pay the supplier. Meanwhile, the supplier was unsure if it could deliver due to the quantity needed and limited global supply of certain technological materials. The opportunity of a lifetime looked like it was about to vanish instantly.
Fortunately, the military supply sourcing agent suggested the distributor call GovFin. GovFin understood the logistical and financial needs of the transaction. GovFin worked with the distributor and the supplier to meet the required delivery schedule. GovFin provided the financing, which saved the deal and the distributor's opportunity, was renewed the following year.
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