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$200K - Contract Collateral Financing

California-based non-profit in existence for five years with minimal revenues ($100K in 2023) has won a $3.3MM contract from the State's Worforce Development Board that pays out in a lump sum to purchase the office building they are leasing and for operating capital for the next two years - $450K. Contract starts on April 1, 2024.


Entity needs capital now to facilitate operations and so property doesn't fall out of escrow until April 1, 2024 = 75 days.


Any lenders who understand contract collateral financing?


Thanks.



18 Views
STEVE BENJAMIN
STEVE BENJAMIN
Jan 23, 2024
They don't own it...there's no collateral with the property. You'd need contract financing.

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