Contract Financing Program
Working Capital for your anticipated City of Los Angeles Professional Service Contract Award
Are you a business owner who is actively bidding or has been awarded a professional service contract in Los Angeles?
While you offer quality services and are capable of doing the work, you may be experiencing challenges lining up funding to start and complete the contract.
What is the Contract Financing Program?
The Contract Financing Program (CFP) is designed to help professional service providers access the capital they need to complete contracts awarded by the City of Los Angeles.
This program creates more inclusive contracting opportunities by offering small businesses short-term, competitive interest rate loans to assist with securing the initial funds necessary to cover direct contract costs such as materials, equipment, and hiring employees to fulfill City contracts that might otherwise be out of reach.
Program Requirements
- Businesses must be located in the City or County of Los Angeles.
- Businesses must be in the process of being awarded a Professional Services Contract with the City of Los Angeles and can provide documentation of the contract award. (Existing or ongoing contracts that businesses have already been awarded are not eligible, only new professional services contracts.)
- Businesses must have a Business Tax Registration Certificate.
- Businesses must be competing for professional services contracts. Services include architecture and engineering, human resources and staffing, consulting, legal services, surveyors, accounting and bookkeeping, marketing and public relations, information technology, training and development, and project management.
Steps to Access Contract Financing Program
Visit ProcureLA.com to learn more about the Contract Financing Program (CFP) details and eligibility.
Fill out the online CFP Eligibility form through Lenderfit for the Contract Financing Program.
Upon confirmation of eligibility, complete an assessment form on Lenderfit and submit all required documents.
Identify City of Los Angeles Professional Services Contract for funding.
Upon application submission, review, and pre-approval, Merriweather & Williams Insurance Service (MWIS) will submit a funding request to lending partners.
Once approved, funds will be released through controlled disbursements.
Ready to get started?
Get In Touch
For more information about Merriwether & Williams Insurance Services (MWIS) and to speak with a team member, please email Janet Ramirez, Contract Base Financing Analyst: janet.ramirez@hubinternational.com
