June 19, 2024
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Cutting the Cost of Your Government Contract Finance

How to Finance Government Contracts for Less

Looking for Finance on Your Next Government Contract? 

Whether it’s your first, or just your latest of many, securing a new government contract can be a massive boost to any business. From guaranteed fair pay to an instant credibility injection, the advantages of public sector work are certainly there and make the tendering process definitely worth it. 

Smooth sailing, that is, until something goes wrong. 

Let’s imagine you’ve secured a brand new contract, your team are hyped, you have systems in place, and you’re ready to go when suddenly, the scope of the work changes and you’re asked to increase demand almost overnight. 

Or let’s say you’ve been on the ground for weeks, you’re fulfilling your end of the contract, completing work on time, the lot, but pre-agreed payments are either late or dry up completely, leaving you with staff wages and materials that still need paying.

What are your options here? 

To allow you to continue working, most businesses look to bridge this funding gap by seeking additional finance by extending their existing finance arrangements or arranging new loans or finance for the short-term. 

So how do you go about doing this? Before applying for business finance, a professional would look at your Delphi Score and the 4 key indicators that determine your finance offer and interest rate. 

Most business owners don’t know what these are, let alone check these before applying for finance. Afterall, why should they?  

It’s like you, strolling into your favourite local chippy on a Friday night and, without ever battering a cod in your life, trying to serve the next 100 customers without doing a thing wrong. While you’d have a decent go, you certainly won’t do it as well as the shop owner. 

Of course not; it’s not your job, which is where professionals like us come in on the finance front. 

Helping you cut the cost of your finance

My job is to know who is lending at the best rate and how to best package deals.

My name is Mark Smillie, and I run Ringrose Business Finance; we’re Finance Brokers and specialise in dealing with businesses who win government contracts. Our team has been involved in public sector work for over 12 years, so, just like you, we’re well aware of the pros and cons of government work. 

Since we’re specialists in this area, we have personal relationships with over 100 finance companies. Allowing us to, almost literally (before COVID!), walk into the VIP area and deal with senior decision-makers themselves. 

This special relationship with lenders allows you to: 

  • Save the time and hassle of ringing lenders, having been enticed by their Marketing Departments and leaving damaging financial footprints behind. 
  • Gives you access to funding lines not advertised to the public. 
  • Get cheaper rates which are exclusively carried through us. 

As you can see, having an expert on your side not only saves you time and hassle, it could save you thousands of pounds in future finance but as importantly having a bespoke finance product that really suits your business.

While the same also applies to existing finance. If you already have finance in place, you could now qualify for better grade finance with cheaper rates and better service. In fact, we typically save our clients anywhere between 10 – 50% on their current finance. 

Ready to save up to 50% on your finance? 

Whether you’re looking at new options or to save money on your existing finance, get in touch with us today to see how much we could save you. 

Give us a call on 0800 612 5364 or visit https://www.ringrosebusinessfinance.co.uk/ to arrange a completely free Bespoke Review of your current finance arrangements before you apply for your next contract. 

Please feel free to check our Named Testimonials https://www.ringrosebusinessfinance.co.uk/testimonials/