Of the more than $650 billion that the federal government contracted for in 2020 (the most recent study available), nearly $560 billion was eligible to be done through small businesses.
State contracts add billions, if not trillions more.
CapStream can help you get government contracts, but first, you need to understand three of the most critical challenges you face:
Surety Bonding. Government contracts require a surety bond. Unfortunately, working capital requirements, and the incorporation of personal as well as business balance sheets into the underwriting process, make surety bonds elusive.
Access to Capital. In an already cautious banking environment characterized by rising rates, banks are historically averse to construction lending.
Certifications. WBE, MBE and DBE are important designations. These letters stand for Women Business Enterprise, Minority Business Enterprise and Disadvantaged Business Enterprise. These certifications help businesses earn contracts. The catch: They can be difficult to get and without them, many government contracts are realistically out of reach.
CapStream can help you.
Our single source solution for construction contractors to obtain project mobilization funding and surety bonding is quick and easy, you can create an account and apply here.
And those certifications? CapStream was built by an SBA-licensee, and we have decades of experience with certifications and partners that will ensure you get over the finish line. We’ll share our knowledge and resources with you.
Call us at (646) 442-1040.
Sources:
CapStream Blog 