Thomas & Herbert, a Washington, D.C. based IT technology management consultancy achieved a significant milestone by securing a contract from the U.S. General Services Administration (GSA) Company, Alliant Enterprise. The consultancy, faced with the need for short-term working capital to fulfill their obligations under this contract, sought financing from Fora Financial.
Challenge
Upon winning the prestigious GSA contract, the consultancy encountered a pressing challenge. They required immediate working capital to meet their commitments to the federal government. The traditional route of applying for a bank loan was deemed too slow and cumbersome for this urgent situation.
How Fora Financial Helped
In response to the urgent need for working capital, the consultancy turned to Fora Financial. They found the process efficient, with minimal paperwork and quick approval. This allowed them to access the financing they needed within three business days, addressing their immediate requirements.
Results
Following their initial financing, the consultancy utilized Fora Financial's financing program multiple times to make improvements to their operations. They now support the federal government's healthcare, housing, intelligence, and defense initiatives, having expanded their business in response to this partnership.
Conclusion
This case study underscores the importance of timely and flexible financing solutions for small businesses, particularly when presented with significant growth opportunities. Fora Financial's support enabled the consultancy to secure a prestigious federal contract and excel in fulfilling their commitments, making a lasting impact in the federal sector.
Why Fora Financial
Why They Chose Fora:
Speed and Reliability: Fora Financial recognized the business’ urgency of securing working capital and delivered swift, reliable funding solutions.
Integrity and Trust: Rodney Thomas, Chairman and CEO, emphasized the importance of integrity in their business relationships. The trust and transparency offered by Fora Financial reinforced their choice.
Flexible Financing: Fora Financial's flexibility in tailoring financing terms to meet their specific needs was a pivotal factor in the decision-making process.
Positive Experience: The experiences, both with the Fora Financial and its leadership, solidified the consultancy’s choice of Fora Financial as their trusted financial partner.