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Federal Government Factoring & PO Funding

Federal Government Factoring and PO Funding of Government Contracts

The complexities of dealing with the federal government factoring and PO funding of government contracts are more complicated than the financing of private sector sales because of the stringent purchasing requirements for government agencies and strict requirements and compliance on invoicing and payments for these transactions by the government. Most factoring companies, therefore, avoid dealing with government contracts. That is where is different. We understand the requirements, and we want to help businesses navigate through the red tape and successfully fund them.

These requirements are embedded in the Federal Acquisition Regulation (FAR) and iRapt. FAR is a complex set of rules. These rules govern the government’s purchasing process. The purpose of these rules is to ensure that purchasing procedures are standard and consistent. Also, the manner in conducting such a method is fairly and impartially. If you’re making sales to the government, you should have a good understanding of FAR; otherwise, you may make costly mistakes in the sales process.

IRapt (Invoice, Receipt, Acceptance and Property Transfer) is an Internet-based invoice and payment system for government contracts. It was formerly named Wide Area Workflow (WAWF) eBusiness Suite.  Like FAR, iRapt is also filled with complexities. Additionally, this requires a substantial input of time to understand the system and use it correctly.

Need speedy funding for your industry needs while working with the government and completing the job? Call (888) 400-5930 or use the fast, safe & secure online funding application.

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