Charter Capital is recognized as one of the hardest working independent providers of accounts receivable financing, invoice factoring and cash flow solutions for small to mid-sized businesses. We offer a complete line of asset based funding and related financial services. In today’s “credit crunch” economy, Charter Capital is your alternative source for business financing.
What is Factoring?
There are many ways to maintain a positive cash flow when growing your company and exploring your business financing options. One popular way to increase cash flow without a loan is factoring. Invoice Factoring (also known as Accounts Receivable Financing) is the practice of selling your accounts receivable (invoices) at a discount to another company. You get the money from the factoring company that you sold your accounts receivable to and they assist you in collecting on the invoices.
Compare Factoring to a Bank Loan
Factoring of Accounts Receivable is not a loan. Even though invoice factoring is commonly referred to as “factoring loans”, it is a financial transaction between the business seeking funds and the factoring company.
Service providers such as technology outsourcing firms and business consulting firms are great candidates for our no-loan Accounts Receivable Factoring service, enabling you to increase your cash flow without the need for bank loans. We are always adding new industries and will consider factoring service providers in any industry.
Accounts Receivable Factoring is a no-loan alternative to business financing. As an alternative source of business financing, invoice factoring eliminates many of the difficult-to-meet criteria of a traditional bank loan. If you can get a loan or line of credit in today’s tight banking market, what are you going to do after you’ve spent those funds? You are still going to be waiting for the invoices to be paid. The biggest problem with a traditional bank loan is that there is a maximum credit limit. Whereas Charter Capital provides no-loan cash based on the quality and liquidity of your assets (your accounts receivable). Because each account is evaluated individually, Charter Capital has much more flexibility than a Bank when it comes to keeping up with an increase in sales.
Information Presented by Fornasetti Biz
Crystal E. Harris (Affiliate Factoring Broker)
Please complete our online application, and list your broker’s name. An account representative will contact you to discuss and answer any questions you may have about our funding programs. You may also call to request a proposal 24/7 for your convenience at 877 - 960 - 1818.
The reason many companies decide on this type of business financing is to ensure the continuous cash flow to the business. Essentially, businesses who use factoring as their business financing choice are focusing on having most of the money now rather than all of it later. It can take time to collect on an invoice, so when a company factors its accounts receivable, they are getting their money faster and without the hassle of the collection process.
Our industry segment can be described a Small Business Finance or Community-Based Financing. Besides being more flexible than the rest of the commercial factoring industry, small business factoring companies have many attractive features. Here are just a few:
- Customers are small or start-up companies
- Small business factoring companies tend to be small companies too
- Small business factoring companies do business in their own communities
- Small business factoring companies are more in tune to the local economy
- Small business factoring companies tend to provide more service to their customers
- Small business factoring companies often take on deals that national factoring companies and banks are not equipped to handle well.
** Top 10 Reasons to begin factoring your accounts receivable:
1. Factoring can turn your accounts receivable into immediate cash without giving up equity
2. Factoring is quick and simple
3. Offer better and more competitive credit terms to customers
4. Take advantage of early payment or volume discounts
5. Factoring lets you concentrate on growing your own business
6. Begin to build and improve your credit
7. No new debt – factoring is not a loan
8. Get invoices paid faster
9. Early detection and warning of customer service problems
10. Receive professional collections, invoice processing assistance, credit screening and monitoring
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Factoring accounts receivable services nationwide including the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
Affiliate Broker Crystal Elaine Harris-
Crystal E. Harris (Affiliate Factoring Broker)
When applying please include broker referral, and an account representative will contact you to discuss and answer any questions you may have about our funding programs. You may also call to request a proposal 24/7 for your convenience at 877 - 960 - 1818.
Please fill out the form above. An account representative will contact you to discuss and answer any questions you may have about our funding programs. You may also call to request a proposal 24/7 for your convenience at 877 - 960 - 1818.
Upon completion of your application please send a notification to email@example.com, with your name/company name/email/and contact number. We look forward to assisting you in this opportune investment incentive.
Crystal E. Harris (Affiliate Factoring Broker)
Big Companies Are Slowing Supplier Payments
As the credit crunch continues to intensify, large companies are employing strategies to shore up their cash flow constraints by delaying payments to their suppliers.
In a recent article from the Wall Street Journal, “Big Firms Are Quick To Collect, Slow To Pay”, corporations are attempting to beef-up their collections all while slowing down their accounts payable to 60 days or more. As revenues for large corporations continue to slow in an already weak economy, they are putting the cash flow burden on their suppliers.
Since many of the suppliers of larger companies are small to mid-market businesses, they may carry an additional burden due to the ever dwindling availability of bank loans or lines of credit. Also, small to mid-sized businesses have little bargaining power when dealing with their larger customers and are forced to accept more lengthy terms. This can have a devastating impact on suppliers that are already strapped for cash.
As business owners are already struggling with cash flow in today’s economic environment, financial relief seems to be scarce. However, Accounts Receivable Financing is an often overlooked choice for businesses to manage their cash flow. This form of financing (also known as Factoring), is a financial tool that allows businesses to capitalize on the power of their outstanding invoices. Factoring is a valuable mechanism to turn a business’ invoices into immediate cash, enabling them to fund business operations.
It is not widely understood, but a factoring firm provides funds to its clients based upon its clients’ accounts receivable. Most invoices billed to credit worthy customers can qualify. Banks, on the other hand, must consider more stringent criteria before qualifying a borrower for any type of funding. In most cases, when considering assisting a business based strictly upon its accounts receivable, factoring companies can provide funds when a commercial bank cannot.
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Economy Recovering – Bank Loans Still Scarce
With FDIC reserves plunging to $10.4 billion from $45 billion last fall and the number of troubled banks rising to 416 from 305 in the first quarter, more pressure is being put on banks to “shape up”.
Although the economy is showing clear signs of recovery, the banking sector may not rebound any time soon. It’s possible that the continued problems in the banking industry will substantially outlast the recession, resulting in a significantly suppressed availability of credit in a recovering economy.
With many banks struggling to keep their doors open, small business owners seeking financing, who are already finding limited options, are faced with desperate cash flow issues. As businesses attempt to recover along with the economy, they need financing solutions now. It is critical that businesses acquire a funding source that is readily available and dependable.
Accounts Receivable Financing is an often overlooked choice for growing businesses. This form of financing (also known as Factoring), is a financial tool that allows businesses to capitalize on the power of their outstanding invoices. Factoring is a valuable mechanism to turn a business’ invoices into immediate cash, enabling them to fund business operations.
As we all know, accounts receivable financing is not free, but when used properly, it can more than pay for itself. The idea is to have cash in hand rather than chasing the full amount of the invoice.
Typical fees are a few percent of the invoice amount depending on several factors such as the volume of factored invoices & how long your customers take to pay. Some of our fees are as low as 1.5%. Regardless, when you use accounts receivable financing to grow your business, your bottom line should increase because of the additional profitable business, enabling you to now add profit, and should more than offset the factoring costs.
FOR ADDITIONAL INFORMATION VIEW FINANCING