Connect to today’s credit, economy and business finance news from Charter Capital. Get breaking news, updates and reporting on industry news providing small businesses with up-to-date financial information and resources.
Fed Keeps Rates at Record Low
Citing an improving U.S. economy, the Federal Reserve said it is slowing the pace of a program to lower mortgage rates and prop up the housing market, while keeping interest rates at a record low. The central bank will stretch out its goal of buying $1.45 trillion in mortgage-backed securities and debt issued by Fannie Mae, Freddie Mac and Ginnie Mae until the end of the first quarter of 2010. It originally intended to buy those securities by the end of this year. The Fed also kept the federal funds rate between zero and 0.25% and pledged to keep rates there "for an extended period." Holding that bank lending rate steady means commercial banks' prime lending rate-used to apply rates on home equity loans, certain credit cards and other consumer loans will stay at about 3.25%. The Fed added, "Economic activity has picked up following its severe downturn” although inflation should remain “subdued for some time.” Fed Chairman Ben Bernanke said earlier this month that the recession is “very likely over.” Thus far, the Fed has bought roughly $775 billion worth of both mortgage-backed securities and debt from Fannie Mae, Freddie Mac and Ginnie Mae, which finance the vast majority of new mortgages. By acquiring the securities, the Fed is helping provide demand for them, which had dried up when the credit crunch and recession deepened-and forcing down mortgage rates in the process.
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Date Last Updated: 10/05/2009
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Charter Capital services many industries. Here are just a few of the industries
we are currently financing:
Trucking and Freight
It has never been easier for trucking companies and freight brokers to get cash
with Freight Factoring from Charter Capital. We purchase your Freight Invoices
and fund you within 24 hours, so you don't have to wait to get paid.
Staffing Firms
We can help you grow your staffing company with unlimited payroll funding ,
whether you're a start up or a multi-million dollar
temp-staffing agency. Our
clients provide staffing for various industries including Professional, Office
Services, Medical, and Manufacturing.
Security Firms
Demand for security services in the USA is on the rise. Be financially prepared
to gain your share with a FactorLine facility only from Charter Capital.
Manufacturing
If your business is a manufacturing plant, distributor,
packaging company, or
any business that invoices to credit worthy customers, then a FactorLine from
Charter Capital can accommodate the working capital funding needs of both new
manufacturing companies as well as those that have been around for years.
Technology Staffing Firms
Service providers such as technology
consulting and staffing firms are great candidates for our FactorLine accounts receivable
funding 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.
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