Growth in Consumer Borrowing Slows in December
Consumer borrowing grew in December, but at the slowest pace in eight months, providing more evidence of a slowing economy. However, for all of 2007, consumer credit rose at the fastest clip in three years. The Federal Reserve reported that consumer borrowing rose at an annual rate of 2.1% in December, down from an 8.2% advance in November. It was the weakest showing since credit increased just 1.6% in April. Revolving credit, the category that includes credit cards, rose at an annual rate of 2.7% in December, a dramatic slowdown from the 13.7% jump in November. Borrowing in the category that includes auto loans posted a 1.8% gain in December, down from a 4.9% advance in November. For all of 2007, consumer credit grew 5.5%, up from an increase of 4.5% in 2006. It was the highest showing since a similar 5.5% rise in 2004.
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Factoring, Credit and
Economy News
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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 Bill Factoring from Charter Capital. We purchase your freight bills
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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