Revolving Lines of Credit, Non- Bank Funding

Overview:

Specifically Designed for Construction and Related Industries -- Progressive Billing

Funds government owned contracts: bonded and non-bonded

Funds privately owned contracts-some private owners may require credit insurance 

True Revolving Credit Facility geared towards funding a specific project or projects

Transactions funded nationwide

 

This is not factoring,  your invoices are not purchased at a discount, your invoices
 are only used for collateral

No personal credit scores considered in decision

No personal guarantors needed in most cases

Requirements 

Company Must Be Profitable, Be in a Growth Mode, Have positive equity

 
Time Line

3 to 5 banking days upon receiving full info package and upon acceptance of terms
and conditions. The final due diligence, documentation, and funding will take 3 weeks.

 

Cost
Overall cost of the facility is pro-rated per days used and may range
from 1.3% to 3.4% of the overall cost of the project

Details, What is Contract Financing?

·        Contract financing (progressive billing financing) for small and middle size construction
and related industries contractors. Currently, this revolving credit line is provided by an 
embedded facility entitled the Contract Financing Facility 

·        The Contract Financing Facility is not Factoring, we do not purchase your invoice (s) at
 a discount, we do however, use the accounts’ receivables as collateral.  Additionally,
 we do not engage your General Contractor or Project Owner (s) as in the case of factoring.

·        The Contract Financing Facility can be used on both Public and privately owned projects.

·        The Contract Financing Facility can be used in Bonded and Non-Bonded Projects.

·        The Contract Financing Facility supports both Sub-Contractors and General Contractors.

·        The Contract Financing Facility is underwritten in house, Financially and Technically.  .

·        Technical underwriting for project and project owner is done by a Third Party Engineering
Company.

·        The Contract Financing facility is monitored by specific project use and by product design,
does not allow the client to be in default.

·        In addition to regular cash flow, funds can be used for pass through stored materials and
equipment specifically being used for that project.

·      The Contract Financing Facility may be used only for the time needed.  There is no
obligation to use minimum amounts or for a specific time period.

·        All funds are managed by a controlled account at a major institution

What information do I need to apply for Contract Financing?

Completed Application,  For Pre-Qualification and Presentation of Proposal (Pre-Approval):

Last three largest completed project profiles

Project Profiles for existing contracts (no more than 30%+/- completion) and new contracts
requesting financing

Last 3 years Financial Statements (Income Statement and Balance Sheet-Accrual Basis)

Current Interim Financial Statement (Income Statement and Balance Sheet-Accrual Basis)

Current Accounts Receivable Aging and retained aging - dated  same date as
interim financial statement

Current Account Payable Aging-dated same date as interim financial statement

Debt Schedule (Include Off Balance Sheet arrangements – Leases, Rentals, etc)

Work Pipeline (current jobs plus awarded contracts not yet started – to include percentage
completion in all current jobs), please total all contract amounts.

What is a Proposal (Pre-Approval)?

A proposal (Pre-approval) means that the company has been evaluated and we are 90%
sure that the facility line extended is accurate. All we need to do is the final due diligence.
To confirm that information presented by client is accurate and correct. The Technical
underwriting is not done at this phase —the crucial thing here is that the company is
approved financially and that the projects are viable projects.  

How many projects can we finance at one point through this facility?

We can finance multiple, on-going projects, as long as their completion percentage is not
greater than 30%.  We can finance all new projects.

Does this facility pay off existing Credit Facilities?

Yes, we can pay off your existing credit facilities with a bank or any other financial group.

How long does it takes for final underwriting, documentation and
Funding?

From the moment the proposal, application, underwriting, additional information, (if required)
final underwriting is received, it will take  three weeks for final due diligence, technical
underwriting, documentation and funding.

Complete the short inquiry form below. You will be sent  information and the required forms
within a few hours of our receipt of your inquiry.
 
Construction Contract Financing / LOC  Inquiry  FORM     

* REQUIRED FIELDS
*  Applicant name:
*  Name of company:
*   E-Mail:
*   Business phone:
*   Business fax: 
      Cell number:
*   What type of financing are you interested in:
      Send an Executive Summary or provide short details here:
*  Loan request amount, (approximately)
      Comments / Questions:

PRIVACY STATEMENTS: Allbex Financial does not rent or sell the personal or company information that you provide. To better protect your privacy we provide this notice. To make it easy to find, we make it available on our homepage and at every point where information may be requested. Allbex does not share this information with outside parties except to the extent necessary to complete your request for more information about financial products you may be interested in.  DISCLAIMERS /DISCLOSURE: Allbex Financial does not offer or give advice on any business or personal tax, or legal questions, or issues. Allbex does not engage in business consultancy. If an applicant has questions on any tax or financial matters, the applicant is strongly encouraged to consult with their\ CPA, or tax attorney. Allbex Financial reserves the right to modify or delete any financial product offering at anytime without notice. Nothing herein or in the information above shall be construed as advice. Allbex Financial only accepts applications from businesses, and does not accept any inquires or applications from any consumer individuals. Should an applicant have other questions or concerns about privacy, disclaimers, or disclosures policies, please contact us at: allbexfinancial@sbcglobal.net or fax at: 415-946-3307.  Past performance does not guarantee future results.

      Thank You!  The application and information will be e-mailed to you within a few hours of our receipt.

Broker/Consultants/Affiliates:
If you are interested in representing our Funding Programs, send us a request for the Broker / Affiliate Registration Form. 
Send Inquiry to: allbexfinancial@sbcglobal.net  Attn: New Business Manager,
Or use one of the  Inquiry  forms above to request a Registration Form, 
include your full Contact information, and your website address.   

 

Allbex Financial Partners (Since 1992)
Newport Beach, CA 92663
Fax: 415-946-3307 (Internet Fax)
E-mail: allbexfinancial@sbcglobal.net 

(C) Copyright 1992 - 2011 All Rights Reserved
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