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A recent BusinessWeek article has some excellent tips for
small businesses about managing
cash flow.
One of the suggestions it makes: try invoice factoring.
It features the following interesting case study about a
small Florida business explaining how factoring kept them
independent:
Broward Aviation Services of Pompano Beach, Fla., buys and
sells commercial airplane parts. So it needs plenty of ready
cash to buy before competitors do. That lets it get a better
price, too. "If you have cash, the deals come to you," says
Timothy Pine, vice-president and partner in the
nine-employee, $7.5 million company. When Pine co-founded
the company in 1999, cash was tight and banks turned down
his requests for credit. Broward sold its receivables to a
factor immediately receiving about 80% of their value and
the rest as [the factor] collected from Broward's customers.
Then Broward could forge ahead without taking on venture
capital. Plus, says Pine, "The banks won't lend to you until
you've built up a cash record. Factoring allowed us to stay
independent."
The staff here at Charter Capital can share similar
testimonials to the one contained in the BusinessWeek
article. They'd be happy to describe how they have helped
many small businesses get through cash crunches and go on to
additional successes. Just ask.
A recent
Wall Street Journal article has some excellent tips for
small businesses about managing
cash flow through accounts receivable factoring.
"Factoring isn't for
everybody. But for companies
that need cash quickly - or
don't want to hassle with
banks - it's one way to
go.", writes Richard Gibson
of the Wall Street Journal.
The article concedes that invoice factoring is a great
way for some businesses to get started, because
companies with little or no credit history can
acquire cash. What most concerns factors is
the credit worthiness of the end customer, not the
business or its owners.
We at Charter Capital are always available to
share the success stories of some of our clients.
Call today.
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At Charter Capital, we can unlock your
cash flow
today. In less than 24 hours, you can turn your accounts receivable into cash to
grow your business.
 Small
Businesses Choose Charter Capital because...
We
are seasoned professionals with decades of
industry experience.
 Personalized
Service
Our clients have one dedicated person and his or her assistant who handle your
account. You don't have to start over each time you call with a new person.
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