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Government Contracting Collateral (Why Lenders Like the Government Sector!)

Tuesday, July 22, 2008   (0 Comments)
Posted by: Guy Timberlake
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This entry submitted by Allen Schirmer, Senior Vice President at United Bank in Vienna, VA. United Bank is a Member of The ASBC CX Trusted Service Provider program. Click here to view Allen's profile.

Why do lenders like the government contracting sector?  The Assignment of Claims Act gives a bank the right to have a 1st lien on its borrower's government accounts receivable and to collect them directly from the government.  This provides the Bank with the highest quality source of repayment:  Uncle Sam.

Click here to read the entire blog entry.

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