269: Why Banks Say No to Your Contract — and How Encore Funding Says Yes

Ever been burned by finance companies, I know I have. So often as small minority owned businesses we do not get the best rates, offers or just out right get taken advantage of because of what we don’t know. Thanks to our new partner, Encore Funding we are now bringing you a trusted source for government contract financing. With more than $500M in funding going to minorities alone in 2024 Encore is here to support your business. Visit encoregov.com for information on how to apply.  In this episode of the Govcon Giants Podcast, I sit down with Craig Cohen, VP of Business Development at Encore Funding, to break down one of the biggest challenges in government contracting: cash flow. Craig dives deep into the misconceptions around traditional bank financing and explains why banks often don’t understand the value locked inside government contracts. He explains why you can’t just “cash a contract” like a check—and how alternative lenders like Encore can step in to bridge the gap. We unpack the difference between term loans, lines of credit, and factoring—and Craig shares how Encore’s flexible, non-bank financing solutions help contractors cover payroll, kickstart new projects, and scale without delay. Plus, he shares a real success story that came straight out of one of our conferences—where a facility maintenance contractor doubled his business after getting denied by his bank. If you’ve ever struggled to get financing for your contracts, this episode is your roadmap to understanding how alternative capital works, who it’s for, and why it’s not as “expensive or risky” as many think. Craig also clears the air on eligibility, including why Encore doesn’t require minimum credit scores or years in business—and how they look at the full picture, not just your past. Craig's Linkedin: https://www.linkedin.com/in/craigcohen1/ Encore Funding Linkedin: https://www.linkedin.com/company/encore-funding/ Website: https://gov.encore-funding.com/  Email: info@encore-funding.com 

Om Podcasten

After the real estate market crashed in 2007 Mr. Coffie launched a successful consulting company helping small business owners earn millions in revenues via federal small business programs. In 2012 he launched Evankoff Construction, a steel erection company building airplane hangars and metal buildings for government agencies around the country. In 2017 Mr. Coffie launched Scorecontracts @ YouTube a channel to help other small businesses achieve their revenue goals using the power of federal contracts. The podcast Govcon Giants is dedicated to showcasing the scalability of growing a business harnessing the power of federal dollars. The marketplace is wide open for all that want to gain a piece. Meet some of the world’s greatest masterminds behind the trillion-dollar behemoth. We interview small firms, large firms, past and current contract officials, government agencies and their representatives all in the name of helping the small business get a leg up in the industry. If you want to participate in this market then you are in the right place.