Landing a new contract is hard work, but sometimes you’re forced to skip out on a new business opportunity because of a lack of working capital to fund or staff the contract.
Rather than stressing about delayed payments and if you’ll have the funds to take on that next contract, you can work with altLINE to ensure you get the cash you need precisely when you need it.
One of the toughest aspects of running a business is waiting for customers with long payment terms, like net 30 or even net 90, to submit their payments. This gap in cash flow caused by the waiting game can deter your business growth, limiting the number of new employees you can hire and creating a barrier to scaling your operations.
Break free from the cycle of waiting for client payments, and get immediate access to your funds with financing from altLINE. You can keep your business momentum going, even when your customers pay slower than you’d like.
Taking on a new contract is exciting, but operational barriers can make it feel like an unattainable goal. To support a new contract, you need to have the workforce and equipment to manage the additional load, but sometimes you don’t have the working capital available to operate at an increased capacity.
When you work with altLINE, you can stop hesitating to bid on that lucrative contract. With our rapid funding solutions, you’ll have the financial backing to bid boldly and win more contracts.
As a bank factoring provider, we are federally regulated, meaning you will receive a more secure and transparent customer experience.
With a direct source of funds through our bank, altLINE can offer lower rates and no hidden fees, helping you factor more confidently.
Our team has decades of experience working with small and medium-sized businesses, so you can rest assured that your company is in good hands.
Our team of experts will work with you to create a custom and effective financing solution that fits your unique business needs and challenges.
You will receive a dedicated account manager who will help you manage your back office tasks, including collecting invoice payments.
Have a tight turnaround and need funding quickly? We have same day funding options that allow you to stress less when you need to make payments.
altLINE is highly rated by sites like Investopedia, FitSmallBusienss, and Fundera. Plus, we have an A+ rating by the BBB and nearly 5 stars on Trustpilot.
Our team of experts will perform credit checks on your customers, so you can feel more confident extending terms to your clients.
With a dedicated onboarding specialist, we make it easy for both you and your customers to transition into the new factoring process.
In 2021, D&A Staffing Solutions struggled to get the funding it needed to staff a new contract because it was a newly established company. After working with altLINE, not only was D&A able to immediately fund a new contract, but the company received a credit line increase in under six months, enabling further business growth.
Get answers to some of your top questions related to contract funding. If you have a question that is not covered here, feel free to call one of our representatives at +1 (205) 607-0811.
Winning a new contract is an exciting business opportunity, but it can be costly to fund the contract. Whether you have to buy more raw materials to fulfill an order or hire more employees, sometimes you need additional financing to take on a new contract.
Two flexible options that business owners can use are invoice factoring and a bank line of credit. Both of these lending options allow business owners to access a credit facility to support short-term funding needs. However, invoice factoring tends to be easier to be approved for than a bank line of credit.
Some types of contract financing lenders will approve business owners, even if they have bad credit or a bankruptcy. For example, an invoice factoring provider will often work with a business that has poor credit because they put more emphasis on the creditworthiness of the business’s customers, rather than the creditworthiness of the business itself. If you are concerned about not qualifying for financing, consider working with a factoring provider like altLINE to get the contract funding you need.
altLINE offers a type of government contract financing called invoice factoring. The application process for factoring through altLINE can be as quick as a few days (as long as you are prepared to submit an application and send over the necessary documents), and once you are approved, you can receive same-day funding.
It depends on the type of government contract financing you receive. For example, an SBA loan or microloan would, in fact, be considered a loan, which is a form of debt. While a line of credit is not considered a loan, it is another type of debt. Invoice factoring, which is the type of government contract financing altLINE offers, is neither a loan nor a type of debt because you are not borrowing any money – instead, you are selling your unpaid invoices in exchange for a discounted cash advance.
To apply for government contract financing through altLINE, you must complete an application, provide a list of your existing and potential customers whose invoices you plan on factoring, and share an accounts receivable aging report. To work with altLINE, you must be a B2B company (meaning your customers are other businesses – not consumers) and have no more than 2 personal bankruptcies.
Government contracts are often lucrative and make you a lot of money, but they often take a long time to pay. Lengthy payment cycles and late payments can put your business in a cash crunch, leading to a frustrating cycle of negative cash flow and increasing debt.
Starting and growing a nursing agency can be complex and challenging, especially when it comes to securing contracts with healthcare facilities, so we’ve put together a guide with strategies you can use to win contracts in the healthcare space.
