As a small business owner, are you eyeing a large government contract? Maybe you are not sure if you have the resources to make it happen? Asset-based lending on your government receivables can help.
Many small businesses are afraid to compete for large government contracts. That is because they doubt whether they have the financial resources to float large-scale contracts. A company that provides asset-based loans can enable firms to venture into these projects through asset-based lending, providing capital injections secured by the company’s government receivables. Let’s take a look at how this easy financing option works.
What is asset-based lending for government receivables?
A company such as Kore Capital can grant you a loan to help you with your government projects, on the basis of the value of your assets. This gives you a much-needed cash injection to hire staff or purchase more equipment to complete your government contract. It is that simple.
With asset-based lending for government projects, a small business can pursue major government jobs with confidence, knowing that they can cover their short-term working capital shortages and deliver great work without interruptions. Asset-based lending is a business financing alternative and an excellent way for a small business to achieve its growth objectives and progress beyond “small business’ status.
Better than a bank loan
It might be possible to access funding through a conventional bank loan, but this comes with a number of challenges. Firstly, it takes time to get approval. Secondly, you will have to enter the loan as a debt on your books. As a small company, you may not even be able to access the kind of money you need from a bank. Asset-based lending eliminates all these obstacles. You can receive your cash within 24 hours, and you don’t incur any debt.
Kore Capital is an experienced and trusted financial services provider. It offers you all the benefits of asset-based lending for government receivables. Contact us for more information.