BALTIMORE, Jan. 25, 2019 /PRNewswire/ -- Kinetic Capital©, a private financing firm launched by Kara DiPietro, HMC Inc. CEO and Maryland's Small Business Person of the Year, today announced the kickoff of its Government Shutdown Program for federal contractors. Kinetic Capital is licensed by the State of Maryland to offer a custom financing solution for those businesses who have been impacted by the shutdown and are in need of immediate cash flow to cover their expenses.
According to federal data analyzed by Wallethub, Maryland is the third most impacted state by the federal shutdown. Maryland officials estimate that 172,000 residents are affected, resulting in roughly $57.5 million less in combined state and local income tax withholding and $2.1 million less in sales tax collections.
Federal contractors and small businesses can apply for funds to cover their business expenses directly from Kinetic Capital. Following a basic application process that includes verification of federal contract, a review of expenses (lease statement, utility bills, etc.), cashflow statement and recent bank statements, Kinetic Capital will calculate the amount of funding needed, and schedule automatic debit and credit transactions. The schedule will enable Kinetic Capital and the business owner to sustain the financing over time. Funding amounts will be determined based on income and expense criteria. Payments are disbursed automatically from Kinetic Capital's private placement fund 24-48 hours after all information has been received and an offer accepted. The repayment schedule will begin once the government re-opens.
"Kinetic Capital was founded to design unique custom funding options for those who are most invested in the success of our communities," said DiPietro. "Cashflow is the kinetic energy of a business, propelling the business forward and creating positive momentum. In the same way, we believe have a responsibility to keep the wheels of the local economy in motion by supporting small business owners."
About Kinetic Capital, LLC
Founded by Kara DiPietro, CEO of HMC, Inc., Board Member of the National Small Business Party, and Maryland Small Business Person of the Year, Kinetic Capital, LLC is a private financing firm that was founded to offer custom financing options and plans for small business owners (SBO), designed by small business owners. Because our success is rooted in the success of our clients, we have checks and balances in place to ensure borrowers are equipped and empowered to make fund repayments in a timely manner. Visit kineticcapitalllc.com to learn more.
SOURCE Kinetic Capital, LLC