Financials Requirement

In order to provide a complete proposal package for a GSA contract, you must demonstrate financial responsibility by providing supporting documentation. The solicitation provides guidance on this, but let’s break this down into layman’s terms.

To fulfill this requirement you will need to provide:

·        The previous 2 completed fiscal years of Profit and Loss Statements, as well as Balance Sheets.

·         If there are any negative financials, (income or equity) you must provide an explanation as to why. Perhaps you sunk money into marketing, product development, etc.

·        The CO upon reviewing may come back and ask for additional documentation, such as letters of credit, etc.

**If you are a Streamlined Proposal candidate (a past successful GSA contractor submitting for a new contract) you do not have to provide financials with your offer**

If you are submitting under the Springboard program as an individual contractor or a Joint Venture, you will need to provide any financial documentation you do have. For JV’s this may be both managing partners financials instead, and any financials that exist for the JV.

As always if you have any questions about the topic covered here, or about the general management of your GSA contract, please don’t hesitate to reach out to info@elevategsa.com.