Control and Distribute Funds on DBE and 8A Projects with NACS
The Disadvantaged Business Enterprise (DBE) federal program is designed to ensure firms owned and controlled by minorities, women, and other socially and economically disadvantaged persons have an opportunity to participate in federally funded projects. Often these businesses are not well financed and, under the DBE program, gain a pathway to break into the construction sector and work with General Contractors (GCs).
Control and Distribute Funds on DBE and 8A Projects with NACS
The Disadvantaged Business Enterprise (DBE) federal program is designed to ensure firms owned and controlled by minorities, women, and other socially and economically disadvantaged persons have an opportunity to participate in federally funded projects. Often these businesses are not well financed and, under the DBE program, gain a pathway to break into the construction sector and work with General Contractors (GCs).
The Small Business Administration’s (SBA) 8A risk program also helps firms owned and controlled by socially and economically disadvantaged individuals to gain access to contract opportunities in the federal marketplace. In addition, they have an opportunity for mentorship from experienced and technically capable GCs through the SBA Mentor-Protégé program. They can pursue joint ventures with established construction firms to increase capacity and grow.
NACS works with GCs to protect funds on a project when there may be some DBE or 8A risk concerns. With joint checks becoming less and less compatible, our funds control services can solve the internal risk concerns a GC may encounter by ensuring that funds are being allocated to those due on the project. This tool works wonders in teaming agreement situations. We can provide funds control services whether or not a bond is involved.
Benefits of Our Funds Control Services
- Limits financial liability with an independent review of all transactions.
- Ensures that incoming project funds and client funding stay within the project scope.
- Verifies all transactions.
- Maintains transaction consistency and ensures that all backup documentation is easily accessible.
Funds Control for General Contractors
NACS works hand-in-hand with you to protect funds on projects with potential DBE or 8A risks.
Contact the Funds Control Experts at NCAS
We ensure that money set aside for a construction job will be used for its intended expenses, protecting sureties from payment bond-related claims. Funds control is also a great tool for contractors who may not have robust internal cost accounting or those looking to take on larger projects.
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