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What to Expect During GSA's Credit & Financial Reviews Blog Feature
Kevin Lancaster

By: Kevin Lancaster on January 8th, 2016

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What to Expect During GSA's Credit & Financial Reviews

GSA Schedule | Contracts | 1 Min Read


During the GSA proposal process, your submitted contract may be subject to a review by a special branch of GSA, the Credit & Finance bureau. This third party is a separate entity from GSA and plays a unique role in the contracting process. Their main function is to conduct a pre-approval survey and analysis of a prospective contractor to ensure that they are financially viable, solvent and able to fulfill requirements under if a GSA contract is awarded.

If your company is selected for a financial review, there are three forms you will need: the financial GSA Form 527, a bank reference letter from all banks your business uses and your financial data from the past two fiscal years. Once you have been contacted by someone in the Credit & Finance bureau, your business will typically have 15 days to comply. Additionally, all work must be done directly by an authorized member of the business being evaluated or directly from your bank. Third party groups, such as consultants, cannot send financial review information to the GSA Credit & Finance bureau. 

Tips for Complying with Reviews

It is suggested that all forms relating to the financial review should be emailed and faxed to the appropriate individuals. In addition, we recommend asking your bank to include a bank fax cover page to accompany the authorized bank form that will be faxed to a member of the Credit & Finance bureau team. This shows them that all information is coming from the appropriate sources and aids in preventing any unwanted last minute results. Additionally, completed bank reference forms must be sent directly from your bank. Any other version will not be accepted. If you fail to complete the requests of the bureau in the allotted time, you will run the risk of having your proposal rejected.

Financial Reviews Increasing

While it is not guaranteed that you will have to go through the financial review process, over the past year, financial reviews have increasingly become the norm during the post-submission period. In the past, financial reviews were typically performed for roughly 50% of offers, however over the past year, specifically for IT offers, nearly all offers underwent a financial review. 

Winvale’s team of experts is available to help you review all documents before they are sent to the Credit & Finance Bureau to ensure full compliance and decrease the risk of your proposal being rejected. We can give your business the assurance it needs to feel confident that you will successfully navigate through the financial review process. 




About Kevin Lancaster

Kevin Lancaster leads Winvale’s corporate growth strategies in both the commercial and government markets. He develops and drives solutions to meet Winvale’s business goals while enabling an operating model to help staff identify and respond to emerging trends that affect both Winvale and the clients it serves. He is integrally involved in all aspects of managing the firm’s operations and workforce, leading efforts to improve productivity, profitability, and customer satisfaction.

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