Houston-based Gap Engineering wanted to compete for an engineering services contract with the Government of Ghana. However, as a small business, Gap Engineering was unable to accept large contracts because of financing constraints associated with staffing up in advance of receiving payment for completed phases of a job.
Our Solution & Impact
The U.S. Small Business Administration (SBA) provided Gap Engineering with a $4.5 million Export Working Capital Program loan, SBA’s largest export loan in five years. This type of loan allows for pre-shipment financing so companies can purchase supplies, pay vendors, and staff up for various jobs upon the award of a contract – and start executing it right away. This loan allowed Gap Engineering to compete for and secure the engineering services contract with the Government of Ghana. Gap Engineering will refurbish four water plants and construct two new ones, providing water and creating local jobs.