As a government contractor, you know that the process of bidding and winning contracts can be long and arduous. Once you have finally won the Government Contracts, the hard work is not over. You need to manage the contract, ensure that it is completed on time and within budget, and ensure that your business can sustain itself during this process.
Fortunately, there are ways to finance government contracts, such as loans, invoice factoring, and SBIR Award Financing from LEONID. All of these options provide non-dilutive funding with no personal guarantees required.
Why Factoring for Government Contracts?
Government Contract Financing is an increasingly popular way for contractors to secure financing for their projects. Invoice factoring allows contractors to get paid immediately for invoices they have already sent out to customers or clients instead of having to wait 30-90 days for payment.
This allows them to keep their operations running smoothly without having to worry about cash flow issues due to delayed payments from clients. LEONID’s invoice factoring services are tailored specifically for government contractors who need quick access to capital in order to complete their projects on time and within budget.
Loans for Government Contractors
Loans such as SBIR Loans are another way that government contractors can finance their projects. The right loan can provide you with the necessary funds upfront so that you don’t have to wait for your invoices to be paid before you can start work on your project.
LEONID specializes in loans tailored specifically for government contractors and takes into account your unique needs when assessing what type of loan would be best suited for your business and project requirements.
Types of Financing available to small business owners
1. Traditional Bank Loans: Small business owners can seek financing from traditional banks in the form of loans. These loans are usually offered at a lower interest rate compared to other types of financing like Factoring Government Contracts, but require extensive paperwork and may take weeks or months to be approved.
2. Crowdfunding: Crowdfunding is an increasingly popular way for small businesses to source financing. Through websites, owners can reach out to potential investors who are interested in supporting their idea or business venture. Although crowdfunding is a great way to generate capital, it’s important that owners clearly explain their goal and how the money will be used.
SBIR Award Recipients Can Now Get Financing For the Awards
The Small Business Innovation Research (SBIR Loans) program awards funding each year through competition-based grants awarded by participating federal agencies. Winners of SBIR grants must use the funds they receive in order to fulfill the terms of the grant agreement or risk losing their funding altogether.
Unfortunately, accessing this funding can often be difficult due to tight timelines or slow processing times at participating federal agencies. LEONID’s SBIR Award Financing program provides immediate access to funds so that award recipients don’t have to worry about fulfilling their obligations under the grant agreement with limited resources or time constraints.
Get Non-Dilutive Funding Solutions With No Personal Guarantees Required
For start-ups or small businesses looking for financing solutions without having to put up any collateral or make any personal guarantees, LEONID offers non-dilutive funding solutions with no personal guarantees required.
This means you won’t have any worries about putting any assets at risk in order to get financing for your business’s projects or operations – all you need is a strong track record of success when it comes to completing government contracts on time and within budget requirements!
Overall, LEONID has a wide range of financing solutions specifically designed with government contractors in mind.
Also, SBIR Award Financing programs provide immediate access so winners can fulfill their obligations under grant agreements, as well as non-dilutive funding solutions with no personal guarantees required, which are ideal for start-ups and small businesses alike!
With all these options available through LEONID, you’ll have everything you need to unlock your business’s potential!