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 Raises the Discount Rate
The Federal Reserve said it raised the discount rate –
the interest rate it charges banks for emergency loans,
citing improvement in financial market conditions. The rate
was increased to 0.75% from 0.50%. "Like the closure of a
number of extraordinary credit programs earlier this month,
these changes are intended as a further normalization of the
Federal Reserve's lending facilities," the Fed said. “The
modifications are not expected to lead to tighter financial
conditions for households and businesses and do not signal
any change in the outlook for the economy or for monetary
policy," it added.
Fed Chairman Ben Bernanke said earlier this month that
the central bank could soon raise the discount rate, but
stressed that would not be akin to a tightening in monetary
policy. The central bank's view of the economy has
brightened in recent months, reflecting fewer job losses and
improved spending by consumers and businesses. But the Fed
noted that the recovery will probably be sluggish, and it
expects to keep its benchmark interest rate - the federal
funds rate - near zero for "an extended period." It cut the
federal funds rate to near zero and the discount rate to
0.5% in December 2008.
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Date Last Updated: 03/01/2010
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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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