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Workshop to provide information on contracts for federal projects

Businesses working on federally funded contracts and subcontracts for any mode of transportation can learn about a U.S. Department of Transportation short-term financing opportunity for their projects at a free workshop Wednesdy (Oct. 19).

The workshop will be held from 2 p.m. to 4 p.m. at the Idaho Transportation Department East Annex, 3292 Jordan St., in Boise. It is sponsored by ITD’s Disadvantaged Business Enterprise (DBE) Program Support Services.

The U.S. DOT Short-Term Lending Program (STLP) provides short-term working capital financing for businesses engaged in U.S. DOT-funded highway, transit and aviation projects. To qualify, businesses must be certified through the DBE program, 8(a) Business Development Program, HUBZone or as a Service Disabled Veteran-Owned Small Business (SDVOSB).

Qualifying businesses can receive revolving lines of credit through participating lenders using awarded contracts’ accounts receivable as collateral. These lines of credit can be extended to both primary contractors and subcontractors with the maximum line of credit up to $750,000.

STLP funds can be used only to meet the short-term costs of performing the contract being financed. They are not available for contract mobilization, equipment purchases or other long-term uses. They also cannot be used for paying or refinancing existing debt.

Workshop presenters will be Cece Mitchell and Matthew Anderson. Mitchell is senior vice president for Small Business Banking at Zions Bank. Anderson is project coordinator for the Northwest Small Business Transportation Resource Center.

For more information about the workshop, call DBE Support Services Coordinator Liz Healas at (208) 334-8567 or email her at elizabeth.healas@itd.idaho.gov. A registration flyer can be downloaded here: http://www.itd.idaho.gov/civil/pdf/stlp.pdf.