Our Govt spend lots of money on any small things to aerospace needs every year. Almost every purchase needs a federal government contract. If you have a business and need to find out about federal contract, so you need source where you can get fresh information and data regarding Federal government procurement. To be able to work with & market the business to the US federal govt, individuals or companies should be knowledgeable about the various systems.
What do you need to do to be able to bid on federal government contracts? You must register your business company for an approved business contractor before you’re permitted to bid on federal contracts. Here’s the step you should follow to register your company as an approved US business contractor:
1. DUNS Number
Obtain the nine digit “Dun & Bradstreet DUNS “ I.D number. Dun & Bradstreet are the credit agency for business entities. This 9 digit number that you can get for free of charge is used to identify your business. But they “Dun & Bradstreet” also offer some useful services in exchange for a charge. Why do you need this I.D number? Duns I.D number would enable your business company to get recognized and accepted as a company, plus allow your business to get loans, government grants, leases, credit lines, and othe important things that enable your business put on to mailing lists from all companies or businesses that would consider to get your own business and enable your company expand to a higher level.
The next step, you must get your business company registered in the federal government’s Central Contractor Registration (CCR). The CCR is the major primary databases of businesses which could work together with the federal government, which means the important key to optimizing the procurement approach. www.CCR.gov is the website you need to visit to register. What do you need for CCR registration? You’ll need to provide DUNS number, Bank Acc Number, Tax ID and specific information about your company. It is free of charge to process and takes about 1 – 3 days to have your CCR account active. Then you can proceed. “FedBizOps.Gov ”
Being registered in the “Central Contractor Registration” or CCR is very crucial, it enables or allows the US Government to identify your business or company as a potential vendor or provider of services and products needed by the federal government. Once your business recognized, your company could be considered for contracts or business grants.
Finally, you’ll require to complete one last application, it s the OCRA application. OCRA stands for: Online Representations & Certifications Application. To be able to sign into ORCA, you’ll need to have your own company’s DUNS ID number that is given after your CCR registration. What do you need it for? ORCA could save your business lots of times
Before ORCA, any company that bid on a federal Government opportunity need to complete an application form certifying and representing that the particular bidder was agree with various Federal Government regulations and guidelines. But now, you could just go to “Online Representations & Certifications Application” or ORCA & finish the entire information needed once, which could be used also on all government contracts.
After you are done with the OCRA registration, all your business information and data stay and active for one whole year, then you will need to renew the information (to refresh), to be able to be used for the following years. If you update your business information during the year, so it’s automatically the expiration date of your OCRA application would be extended for another one year.”FedBizOpps.Gov”
After you complete all the registrations and are approved by the federal government, you could start and begin bidding on suitable government contracts. You need to visit FedBizOpps.Gov where you will get all the information you need about Fed Biz Ops ( Federal Busines Opportunities ). Through that government website, you can see most available federal contract solicitations listed.
What other important things you will get from FedBizOpps.Gov website? You’ll have access to know what the requirement to bid the contract, how and when it will take place. For any businesses offering goods that qualified for the General Services Administration (GSA) long term government contracts, all those solicitations can be found under www.GSA.gov website.FedBizOpps.Gov
Make sure that you need to study about Fed Biz Ops or Federal Business Opportunities by visiting these websites FedBizOps.Gov and GSA.Gov before you register your business, because perhaps the US government doesn’t need the kind of services or products you offered, so do not spend your time for nothing with the registration process.
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FedBizopps.Gov – Does your business having some problem financially? Or Do you want some help to develop your own business? Don’t worry because there is a fed loans for small business available for you to get. The value of the small business in the global economy is fantastic and therefore many countries around the world are attempting their very best effort enhancing and also improving the small companies or businesses.
Here’s the institution who’s actually Providing Loans For Small Business:
The SBA (Small Business Administration) has been given a mandate supporting US small businesses, it’s very clear since Obama become the American president, the statistic is starting to show progression. Last year, the “Small business administration” was promising around $333mm a week in business grants to small enterprises generally, that has increased from$258mm a year before. This illustrates around 1/3 increase, which means that things are showing strong improvement with all the better federal government assistance and support. Also there is a guarantee from the US government for financial institutions or banks making “Small Business Administration” loans to become 90% against default from 70% against default before, which means that making it better, less risky and saver for banks or financial institutions making loans for small business.
The Important Thing that you need to bear in mind: before you go anywhere else, first thing you need to do is going to a SBA “Small Business Administration” back program. The majority of S.B.A business loans will require few weeks or even months to get completed, but the term and rates are usually the very best available compared to any other institution. They have an “express” program for business loans under $35K that is created to have a final decision in 3 days, but you’ll still have to present a written business plan.
Credit Union is a type of lender that is very similar to banks. In other words, the main purpose of the credit union is providing financial products to their membership, never drive profit earnings for shareholders. Since the members are actually ‘own’ the institution or union, their interest rates will always be the same. Therefore, credit unions as a financial institution have managed to stay away from the very risky bets & totally poor lending decisions which drove our country to the current financial crisis. Credit Unions might or might not make loans for small business, however it’s a secure option that have been done by many. One of the downside is that you must be a member if you want to join. But the good thing is that it’s calculated that more than 95 Percent of American is qualified to become members, so make sure of joining one within your location. Becoming a member of a credit union is normally as easy as opening a bank account for the amount of $25.00 dollars, and you will get the variety of lending services that available just like community banks, in fact with less cost.
So should you need to get a financial institution that’s doing loans for small business, credit union definitely is an excellent option you could find. The requirement will be more traditional or conservative, therefore do not go there if you are having have income or credit problems in your business, it’ll frustrate you for sure. On the other hand, if you are having good credit standing, the terms for the loans for small business offered by the credit unions should be quite attractive and also cost effective.
Merchant Cash Lenders
These kinds of lenders will give funds to those companies that process the revenue of their businesses using credit cards. The good thing is that those lenders ” Merchant Cash Lenders “could deal with many different kind of credit situations plus they’ll usually get everything done very fast. The negative thing is that the interest rates could be very high, plus in advance application costs. Because it’s not regulated by law as a loan, but a “cash advance” on future credit cards receivables, the interest rates that they charge don’t have any legal legitimate upward limit. It means that a cash company might “purchase” upcoming credit card bills of $110000 dollars & give $75000 upfront to the merchant. As you can see the difference $35000 represents the fee or charge for giving cash advance. For this illustration the interest rates is greater than 30%, which isn’t untypical for the kind of funds offered by these lenders.
These kind of lenders are the perfect for any business merchants that need quick money but having relatively poor documentation. Due to their power to deal with many credit situations, be prepared paying for the very high price.
If you own a small business and interested in doing business with the government, you definitely can do that. The government contract projects are definitely not limited to large companies only. Small business companies may also pursue U.S. federal government contracts as well. Visit the website FedBizOpps.Gov or FBO.Gov or Sba.Gov for small business, to find out information regarding federal government contracts.