If you need Purchase Order Funding for your awarded Government Contracts, what are the options when selecting the best PO Funding Company for financing Government Contracts?
Let Us Look at Each Important Variable When Choosing a Funder for Government Sales and Contracts:
Is the Purchase Order Funding Company Startup or Newer Company Friendly?
It is one thing to win a government contract; it is another to have the financial capabilities to fulfill it successfully. You might have a tremendous personal track record with your previous company or significant government contracts. But if your business is less than two years old, it limits your financing sources. However, there are factors (like WIP Funding) which are very startup company friendly. If your company can profitably perform on the contract, there is an excellent chance the factor will fund you.
Does the PO Finance Company have deep Government Experience?
As you know, as a Government Contractor, dealing with government entities and their bureaucracy and paperwork is its world. For over a decade, factors have been dealing with the FAR and the intricacies of government payments from government entities and prime contractors.
What if I need Work In Process Financing?
Well, then you are in the right place! As our name shows, we offer WIP Funding, unlike most other Purchase Order Funding and Invoice factoring companies. Everyone at WIP Funding has production and manufacturing experience.
Can you write Letters of Credit for my Company?
There are factors with strong Import Financing group that has broad experience in writing Letters of Credit, Cash Against Documents Funding, Trade Acceptance Drafts and Vendor or Supplier Guarantees (or other types of credit enhancement tools). Letters of Credit and other types of Documents Funding can be tricky and rife with pitfalls. We can help guide you and protect you by recommending the correct vendor financing tool.
WIP Funding also provides Credit Enhancement. This is similar to a Vendor Guarantee because WIP Funding provides a guarantee that the supplier will get the payment. This Credit Enhancement comes with the same benefits as the Vendor Guarantee, such as priority processing, discounts, and credit protection against debtor insolvency. Credit Enhancement can also raise a company’s overall credit score and improve a company’s credit profile.
Also, a Vendor Guarantee from WIP Funding helps your businesses grow. Suppliers will be willing to sell more goods when they are sure they will be paid on time or early. Meaning, there’s no limit to some goods businesses can sell; as long as they meet the requirements for WIP Funding’s Vendor Guarantee Program. Businesses run smoothly. There are no costly delays or cancellations due to backorders, and a company’s sales are not limited by working capital restraints. Selling to creditworthy customers, this is an excellent program for start-ups or new businesses looking to grow.
Can you help me show the Government enough Financial Strength so I can win more Contracts?
WIP Funding has a Financial Capability Certification Program. This program provides customers with contingent financing commitments. They can demonstrate to US & State Government contracting officers that they possess the financial wherewithal to execute on awarded contract. We stand ready to help and want you to grow and build a great company through winning government bids!