California-based non-profit in existence for five years with minimal revenues ($100K in 2023) has won a $3.3MM contract from the State's Worforce Development Board that pays out in a lump sum to purchase the office building they are leasing and for operating capital for the next two years - $450K. Contract starts on April 1, 2024.
Entity needs capital now to facilitate operations and so property doesn't fall out of escrow until April 1, 2024 = 75 days.
Any lenders who understand contract collateral financing?
Thanks.
