CONTRACTOR CAPITAL SOLUTIONS PROGRAM
phone . By using Lenderfit , borrowers can submit all required documentation online , rather than having to send multiple emails . Additionally , both the lender and MWIS can view the uploaded information in real time .
Complete a Project Cash Flow Projection ( with MWIS / CTAP guidance , as needed )
Apply for CCSP funding
There are a few key points to know about how much these loans will cost the borrower . There is no application fee . The interest rate for CCSP loans is currently 8.75 % ( compared to prime at 8.5 %, which is the lowest rate commercially available to highly-qualified borrowers ). There is also a 3.5 % closing fee , and third party funds administration is required , at 1 % of the total funds administered .
A CCSP loan benefits both project owners and prime contractors , because they can be confident that CCSP-backed borrowers are properly capitalized to complete the contract work and that progress payments will be used to cover project expenses . They also have the assurance that CCSP borrowers receive individualized field support services from MWIS / CTAP staff .
Complete the Contractor Capital Solutions Program Intake Form here .
For more information , contact : Janet Ramirez , Contract Base Financing Analyst , Merriwether & Williams Insurance Services , a Hub International Company , ( 213 ) 258-3088 , jramirez @ imwis . com .
Jaron Thexton , Credit Analyst , Pacific Community Ventures , ( 415 ) 442-4300 , jthexton @ pcvmail . org .
Enroll in MWIS / CTAP technical assistance programs
Register and participate in MWIS / CTAP / CCSP seminars and workshops
Ask to be CCSP-prequalified
Provide prequalification / underwriting information
Identify project opportunities
Analyze project estimate & schedule
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