What is Mobilization Funding?
Mobilization funding provides the capital needed to cover costs before work begins on a project or prior to invoicing. This can include such things as the transfer of both equipment and manpower, the installation of equipment at the project site, personnel lodging and allowance, insurance, and payroll.
Similar to purchase order financing, mobilization funding provides a financial cushion so you are able to keep your projects moving effectively and efficiently from invoice to invoice. This funding option allows contractors to take on larger projects, while giving peace of mind that there will be monetary coverage for materials and labor from start to finish. Once you have signed a contract, you are eligible for mobilization funding.
Mobilization Funding with SouthStar
SouthStar Capital can advance up to 10% of the total Government Contract amount and provide mobilization funding to jump start the project. This allows you to take on larger jobs, by securing funding for the material and personnel that come along with that.
Once the project is underway and the initial invoice is issued, SouthStar’s funding process will convert into an Accounts Receivable facility. You are then advanced up to 90% of the amount on your work completed invoice(s). This provides the working capital needed to ensure the project is completed on time. This also provides the capital needed for you to continue to take on new jobs and grow your business.
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Benefits of SouthStar's Mobilization Funding
- Easy and fast qualification
- Initial funding in 2-5 days
- Private lender
- Fast decision making
- Access capital from project start to finish
- Challenged credit is a non-issue
- Balance sheet issues are OK
- Pre-check of customers
- No equity required
- Collections services
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“Business was good and our company was growing, but our slow paying clients had our cash flow tied up in invoices. Paying our staff on time was a constant struggle that resulted in us losing employees. SouthStar’s Payroll Funding has really turned our business around. Now I have the cash I need to pay employees on time and I’ve used the extra funds to take on more clients.”
– Andrew, Owner of a Distribution Company