-- Lift Off is a new program designed by the team at Endeavour that allows them to provide non-dilutive SBIR and STTR financing - this program is the first of its kind in the public sector lending industry, allowing growing government contractors to finally tap the value of their government contracts for the working capital they need.
"The SBIR program is often referred to as "America's Seed Fund", but the challenge has always been that the contractors are required to deliver and invoice in order to receive funds." said Endeavour co-founder James Parker. "As a taxpayer, I appreciate that, but as an entrepreneur, I know the challenges of delivering meaningful work in advance of payment. Lift Off solves this problem as the critical third leg in the government innovation ecosystem, providing truly non-dilutive capital, up-front, to the difference-makers working in the best interests of our country."
Lift-Off has already funded its first cohort of SBIR recipients and is looking for more applicants. SBIR (Small Business Innovation Research) and STTR (Small Business Technology Transfer) are programs that are designed to fund a wide range of startups and small businesses working on the areas of research and development deemed critical by the US Federal Government. The funds are designed to help stimulate innovation in tech and IT fields, as well as to meet federal R&D needs, and to help the crossover between R&D and commercial impact. Endeavour has launched its new Lift-Off Finance Program to help its clients access the value of these contracts in advance of the government payment cycle.
Over 5,000 new SBIR awards are issued every year representing 3.2% of the research budget for government agencies with a $4.8B annual TAM. This is an important new addition to the Endeavour platform, allowing the company to establish relationships with the earliest stage companies in this space and, and expand our foothold across the government finance landscape.
Endeavour custom-designed the Lift-Off program after hearing from numerous clients about the need for such a product. The Company is now ready to advance against future milestones/CLINs on Phase 1/2s SBIRs and can fund up to 75% of the total award on Day 1 on a completely non-dilutive basis.
Founded by scientists and engineers, the team at Endeavour recognizes the effort and capital needed to help solve complex problems with highly technical solutions. For that reason, they are committed to and excited about taking the next step towards funding the next generation of difference-makers in National Security and Space Endeavour is a mission-oriented, double-bottom line organization, which is committed to providing both superior investment returns and meaningful change to the world we operate in. As such, Endeavour gives back 50% of after-tax profits every year to charities that serve the Veteran and Military-family communities
To learn more about how Endeavour, a leading DOD Trusted Capital Provider, as well as the services they provide and the industries that they serve, you can visit their website at http://www.endeavourfinance.io/
END
Notes for the Editor: Please send any press inquiries to Chris Lay, who can be reached by mail at 16400 Pacific Coast Highway, Suite 214, Huntington Beach, CA 92649, or can be called on the phone at 562.548.4399. Email inquiries can be sent to [email protected]
Contact Info:
Name: Chris Lay
Email: Send Email
Organization: Endeavour
Address: 16400 Pacific Coast Highway, Suite 214, Huntington Beach, CA 92649
Phone: 562.548.4399
Website: http://www.endeavourfinance.io/
Release ID: 89056664
Google
RSS