LONDON–(BUSINESS WIRE)–Blackstar Capital, a leading provider of invoice financing to businesses, today announced that it has secured $1 billion in funding to support government contractors and subcontractors. The funding will be used to provide working capital solutions to businesses that provide services to the government, both prime contractors and subcontractors.
“This significant funding milestone will allow us to further support the growing needs of government contractors and subcontractors,” said Michael Ellis, Chief Commercial Officer of Blackstar Capital. “Our funding solutions provide businesses with the flexibility and certainty they need to thrive in the competitive government contracting market.”
Government contractors often win contracts that are payable on credit terms, which can put a strain on their cash flow, particularly for subcontractors who are dependent on payments from prime contractors. Blackstar Capital’s invoice financing solutions provide businesses with access to working capital to cover their expenses and meet their obligations. This can help businesses to:
- Improve their cash flow and reduce their reliance on debt financing
- Expand their operations and take on new contracts
- Reduce their risk of late payments and invoice disputes
- Secure more government contracts
In addition to working directly with government contractors, Blackstar Capital also collaborates with prime contractors to extend funding to their subcontractors. This is a win-win for all parties involved:
- Prime contractors benefit from a more resilient supply chain. When their subcontractors have access to working capital, they are better able to meet their obligations on time and in full. This can help prime contractors to avoid delays and disruptions to their projects.
- Subcontractors benefit from access to the working capital they need to operate their businesses. This can help them to expand their operations, take on new projects, and hire more employees.
Blackstar Capital’s digital onboarding process can be completed in as little as four minutes, and approval decisions are typically made within 24 hours. The company also offers a letter of funding intent (LOI), which can be used to support government tenders.
“We are committed to being a trusted partner to both government contractors and subcontractors,” said Michael. “We are here to help them achieve their business goals and build a stronger, more resilient supply chain.”
The program will aim for full deployment of capital by mid-2025.
About Blackstar Capital
Blackstar Capital is a UK based, regulated non-bank financier offering a streamlined and data-driven approach to funding. Blackstar’s state-of-the-art technology platform is utilised to provide great customer onboarding experiences in as little as 4 minutes.
In addition to funding against government contracts, Blackstar has partnered with several of the world’s largest supply chain platforms to create a unique working capital product targeted to the suppliers of major corporates.
Contacts
Mark Stephens
[email protected]
+44 7391 227 233
Read the orginal article: https://siliconcanals.com/news/business-wire/blackstar-capital-secures-1-billion-in-funding-to-support-government-contractors-and-subcontractors/
