CDABP TRAININGS
THE CONTRACT FINANCING ASSISTANCE PROGRAM ( CFAP )
The Contract Financing Assistance Program ( CFAP ) provides contract-based financing for small and diverse contractors looking to bid and manage cash flow on public works construction contracts . The CFAP allows contractors to use awarded contracts to collateralize project cash flow funding . The CFAP participants also gain enhanced skills in understanding bid documents and their implications , conducting project cash flow analysis , and optimizing change order management .
VALUE OF CFAP LOANS Since CFAP ’ s inception in 2019 , a total of $ 2.22 million in loans have been issued to assist participating contractors with meeting projectspecific cash flow needs .
CUMULATIVE CDABP STATISTICS
The statistics below show additional results of CDABP ’ s services and support to small contractors . Data shown are cumulative from when the Los Angeles CDABP was launched in 2005 .
BID BONDS ISSUED $ 285 million is the total bid bond value , including program-specific bonding support , issued to CDABP-enrolled contractors since the program ’ s inception ; in other words , this bonding support has enabled small local and diverse contractors to bid on and participate in $ 285 million worth of program sponsor projects in which they otherwise would not have been able to take part .
SPRING 2024 LA CONTRACTOR CONNECTION - 45