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Landing a government contract for any business can be exciting. It means a steady stream of income to support your business. But the nature of these contracts can be complicated, it usually takes some time before you will see results. That’s where government invoice factoring comes in. At United Capital Funding, we provide working capital for your business so that that you have the money to continue operations while you are waiting for your invoices to be paid.
As a client, we can break down the government invoice factoring process into 4 simple steps.
United Capital Funding will complete and send multiple copies of the Instrument and Notices of Assignment in accordance with the Assignment of Claims Act of 1940.
The contracting officer is required to acknowledge receipt of the Assignment of Claims and provide the appropriate copies to the agency’s disbursement office and to United Capital Funding demonstrating perfection of our assignment.
You continue to invoice according to your company’s current procedure and therefore, upload your invoice into Wide Area Work Flow (WAWF), IRAPT, AFWORX, or other online portals accordingly.
Once United Capital Funding verifies the invoice has been processed and approved for payment within the online portal, UCF then advances 85% to 90% of the invoice amount to your account.
At this point in the government invoice factoring process, your customer then pays the invoice amount to United Capital Funding’s secure lock box facility
Upon receipt of payment, United Capital Funding then releases the 10-15% balance, less any accrued fees.
It’s simple and no cost to apply
To date, we’ve successfully financed over 1,000 emerging businesses across the Continental U.S. (CONUS) and are committed to delivering the best customer service for government invoice factoring; while providing flexible, tailored funding solutions to meet the needs of each business. We recognize that every client is unique, so we take the time to understand each individual business and develop a customized approach to ensure the best possible outcome to provide working capital.