Government Contract Factoring
From start-up companies experiencing rapid growth to established companies who have exceeded their factoring credit limits offered by their bank, many types of government contract providers turn to Business Factors for their factoring needs. To find out how our government contract factoring services can help you, contact us now for a free quote.
How Does Government Contract Factoring Work?
Government contract factoring and financing is regulated by the Federal Government Assignment of Claims Act. Many businesses rely on government contract invoice factoring and government contract accounting receivables factoring to combat the cash flow problems faced by many government contract providers. While certain exceptions may apply, these are the general guidelines for these types of government contract factoring services:
Government Contract Invoice Factoring:
- Your company names Business Factors as your financial partner
- Once you provide the services/deliver the goods specified by your contract, you generate an invoice.
- Business Factors provides you with the highest industry installment advance against the invoice.
- The balance of the cash is returned to you minus a small service fee
Government Contract Accounting Receivables Factoring:
- Your company names Business Factors as your financial partner
- Copies of the accounting receivables to be factored are sent to us
- Business Factors provides immediate funding that you can use for your business operations.
- We take care of the administrative tasks commonly handled by accounts receivable departments including payment collection, payment tracking, accounting, etc.
- Once payment is made to us, you receive the balance of the cash minus a small service fee
Now that you know more about how factoring for government contract providers works, why not request a free, no-obligation consultation online today, and let the experts at Business Factors help you discover which government contract factoring services are right for your business?
