What is Mobilization Funding?
Mobilization Funding lends funds to contractors and manufacturers to help bridge the gap between the start of a job and the influx of the first draws / receivables related to those jobs.
How is Mobilization Funding different than other lenders?
We are a unique, short term lending platform that can serve as an alternative to cash advance or factoring loans. We provide upfront funding for your awarded contract, that way you, the contractor, have solid financial footing to fulfill the project as you were hired to do.
What is the process like for getting funding?
The funding process involves the client filling out a simple application, requiring some financial documents and a phone call with one of our loan officers. Once finished, and if approved, we will send you a term sheet to show you exactly the cost of the loan. The entire process takes about five business days once the paperwork is submitted.
Do you offer residential loans?
At this time, Mobilization Funding does not have a residential lending program.
Can I get funding before a job begins?
Yes. We can provide funding any time after a contract is awarded.
How long is the funding process?
Our funding process generally takes about five business days, largely depending upon how quickly the prospective client is able to complete the application and submit required documents.
Do you work with financial brokers?
Yes, we often partner with financial brokers who are looking for lending alternatives for their commercial clients.
Are these short or long term loans?
These are short terms loans, typically up to 180 days.
What can I use the money from the loan for?
The money from the loan can be used for any job related costs – labor, supplies, equipment, insurances, etc.
How much does the money cost?
There are closing costs and interest on the principle balance. You will receive a term sheet that details exactly what your loan will cost BEFORE you have to make a decision. The cost depends on the pay back schedule, amount borrowed, and the term of the loan.
How much money can I borrow?
Generally, you can be approved for up to 20% of the contract’s value.
Can I borrow on multiple contracts?