Do You Have An Alternative If Your
Lender Becomes Uncomfortable With Your Credit?
by Keith Mabe - Charter Capital
Unfortunately, Tara Olson's story is not unique. Banks will
often drop your line of credit if it does not meet certain
profitability requirements. This, of course, can leave your
business scrambling for cash if you are dependant on bank financing
or a line of credit to help buffer your cash flow.
The Importance of Cash Flow
As with most
businesses, cash flow is critical to ensure funds are available to meet
your operating needs. Without effective cash flow management, a business
faces several problem areas, such as cash shortages, inability to pay
bills, bankruptcy, or even business failure.
Cash flow is one of the most vital elements in the
survival of a business, and it shows where a company may be headed. Instead
of depending on traditional bank financing, you can more easily manage your cash flow with
a FactorLine from Charter Capital. When you can predict or even
control your cash flow, you are in a much better position for continued
business success.
The Difference Factoring Makes
An increasingly popular way to help manage cash flow is factoring.
Factoring (also known as Accounts Receivable Financing)
is the practice of selling your accounts receivable (invoices) at a
discount to another company like Charter Capital. You immediately
get the money from Charter Capital and we become responsible for
collecting on the invoices.
With factoring, you are free from many of the restrictions placed
upon your business by traditional bank financing. Most importantly,
with factoring, you are free to grow without having to give up
equity or control of your business. This is
because factoring your Accounts Receivable is technically the sale
of an asset, and the funding you receive from us is not debt, but a
cash asset.
In today's competitive marketplace, getting
debt-free funding in the form of factoring can give businesses the
edge they need to succeed.
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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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