CONTRACTOR CAPITAL SOLUTIONS PROGRAM
The Contractor Technical Assistance Program ( CTAP ) administered by Merriwether & Williams Insurance Services ( MWIS ), a HUB International Company , in collaboration with Pacific Community Ventures ( PCV ), has launched the Contractor Capital Solutions Program ( CCSP ). PCV is a mission-driven lender that provides fair and affordable loans up to $ 250,000 together with free business coaching to disadvantaged small businesses . PCV ’ s services help small businesses thrive , creating jobs and wealth in communities that need it most .
The CCSP basically allows contractors to use awarded contracts as collateral for Alameda County project cash flow funding . This funding program is made possible through a partnership between MWIS , Alameda County and PCV .
How does the program work ? Contract / account receivable is used as collateral , and the loan funding is based on your project cash flow needs . Money is released as needed , and funds are earmarked for your approved project through Third Party Funds Administration ( TPFA ).
Interest and fees required are below the market rate . Contract bills are paid first , the lender is paid second , and the contractor is paid third . The CTAP provides field support services in areas of contract administration during construction . The CCSP is helpful to local small contractors of all backgrounds by making it possible for them to bid on previously unattainable projects . The program can help you :
Boost your credit score , as loan payments are reported to the Credit Bureau
Gain skills in projecting cash flow and projected profitability
Improve the likelihood of getting surety support and capital through the traditional market
Gain access to surety and enhance GC pre-qualification acceptance
Establish best practices for managing your business
Set the stage for overcoming barriers to commercial lending
The intake process is fairly simple . The contractor will complete an intake form with MWIS . If the contractor is certified , MWIS will assist with Alameda County bid readiness and review the loan checklist and application .
If the contractor is not certified , MWIS will provide certification resources to include the applications process , will assist with city bid readiness , and will review the loan checklist and application .
During the intake process , contractors will also be required to upload information to the Lenderfit portal . When a potential borrower engages with the Lenderfit program , they will receive a unique link that directs them to the application process for the CCSP . This platform streamlines the application process by allowing borrowers to upload their information via the web or
SPRING 2025 CONTRACTOR REPORT - 17