Forbes.com Article Endorses Factoring
A recent Forbes.com article has some excellent tips for
small businesses about managing cash flow through factoring.
URL:
http://www.forbes.com/2009/01/29/finance-factoring-debt-entrepreneurs-finance_0129_finance_print.html
The article concedes that
factoring is a great way for some businesses to get immediate cash without
going into debt. What most concerns factors is the credit worthiness
of the end customer, not the business or its owners.
The reason many businesses make this move is to ensure the
continuous flow of cash to the business. Essentially, businesses
who use factoring are focusing on having most of the money now
rather than all of it later. It can take time to collect on an
invoice, so when a company finances its accounts receivable, they
are getting their money faster and without the hassle of the
collection process.
It's even more important for small businesses to free up
working capital through factoring. The money can be invested into
new equipment, used to pay bills, or used toward payroll. Of course,
the alternative is to chase the customer for the invoice payment and
defer everything else while the money is tied up in the collection
process.
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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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