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.
Foreclosures Still a Big Threat to Recovery
A record 2.8 million households were threatened with foreclosure in 2009, and that number could rise this year as more unemployed and cash-strapped homeowners fall behind on their mortgages. The number of households that received a foreclosure-related notice jumped 21% from 2008, RealtyTrac
Inc. reported. One in every 45 homes was sent a filing,
which includes default notices, scheduled foreclosure
auctions and bank repossessions. In December, more than
349,000 households, or one in 366 homes, were hit with a
foreclosure-related notice. That represents a 14% jump from
November and a 15% leap from December 2008.
High foreclosures have forced the federal government and
several states to come up with loan modification programs to
prevent or delay foreclosures and help troubled borrowers,
but they have had little impact. Stemming the tide of
foreclosures is crucial to a housing market and overall
economic recovery. Since foreclosures sell at heavy
discounts, they lower the value of surrounding properties.
Since homes are typically the biggest investment consumers
make, a decline in home values shrinks their net worth,
forcing them to cut back on spending.
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Date Last Updated: 01/22/2010
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Charter Capital services many industries. Here are just a few of the industries for which we are currently providing business financing:
Trucking and Freight
It has never been easier for trucking companies and freight brokers to get financing 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 business 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 business financing 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 financing facility from Charter Capital can accommodate the working capital funding needs of both new
manufacturing businesses as well as those that have been around for years.
Technology Staffing Firms
Service providers such as technology consulting businesses and staffing firms are great candidates for our FactorLine accounts receivable financing 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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