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.
Consumer Borrowing Down for Seventh Straight Month
Consumer borrowing declined for the seventh straight month in August, as households worked to pay off debt and banks reduced credit card limits. While that's a positive trend in the long run, it can dampen the hoped for recovery as consumer spending accounts for about 70% of the economy. The Federal Reserve reported that total consumer credit fell in August by $12 billion, a 5.8% annual rate of decline. That follows a downwardly revised drop of $19 billion, or 9.1%, in July. Credit card debt fell 13.1% in August, the steepest drop since February. Non-revolving debt, such as auto loans, declined 1.6%.
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Date Last Updated: 10/15/2009
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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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