We wait for
so you have cash
Send us the
invoices you want to
factor, we wire you
the funds. Usually
the same day.
you normally do.
payment when getting paid right away is easy?
Why Choose Charter Capital over other Factoring Companies?
WE GO THE EXTRA MILE TO TURBO-CHARGE YOUR CASH FLOW.
Same-Day cash at competitive rates is only the start. You also get:
• Customized funding that fits your business needs. • No hidden fees. • Industry specialists who understand your unique business problems and goals. • A true partner to help you overcome financing hurdles and do the extra work to make factoring work for you. • Fast response with no layers of approvals.
Industries We Serve
WE WORK WITH MANY INDUSTRIES, INCLUDING:
• TRUCKING & FREIGHT COMPANIES
• SECURITY FIRMS
• CONSULTING & SERVICE FIRMS
• OIL & GAS SERVICES
• AND MORE!
If your company is growing and you’re tired of waiting for your customers to pay, then our factoring service is an ideal solution. Need working capital for a startup or early stage business, an under-capitalized company, one that does not qualify for traditional bank loans, or one with seasonal sales?
With decades of experience, Charter Capital is a trusted leader among invoice factoring companies, and is recognized as one of the hardest-working independent providers of alternative financial services for small to mid-sized companies. We offer a complete line of accounts receivable financing, invoice factoring services, and related cash flow solutions. In today’s economy, where companies are under a continuous cash squeeze, Charter Capital is your alternative source for traditional business financing.
We will work with your company to offer competitive rates, same-day funding, and no hidden fees in order to help you get the working capital you need. High client retention rates are reflected through our dedication to customer service that sets us apart from other factoring companies.
Why choose Charter Capital over other factoring companies?
- Same-Day Funding
- No Term Contracts
- Low Rates
- No Hidden Fees
- Dedicated Account Manager
- Free Credit Checks
- Decades of experience helping companies just like yours
We truly value the relationships we have with our clients and we understand their need for funding on their terms. We offer same-day funding without long-term contracts, which is pretty rare among factoring companies. There are also no hidden maintenance fees with our invoice factoring services.
Our process for receivables factoring is simple: provide an invoice to your customer as you always have. Then, you submit the invoices that you want to us. We wire the cash directly to your company and Charter Capital waits for the payment from the customer. As a result, this enables your company to grow without the stress of trying to maintain cash flow. Furthermore, the amount of funding you have access to increases in proportion to your invoicing and we can fund as little as $10,000 a month and up to $2 million for larger companies.
We serve a number of industries including, but not limited to:
- Trucking Companies & Freight Factoring Services
- Security Firms
- Consulting & Service Firms
- Oil & Gas Services
If your company is growing and you’re tired of waiting to get paid, then invoice factoring is an ideal business cash advance solution.
See how accounts receivable factoring from one of the top asset based lending companies in the market can make a difference for your company. To get started, call us toll free at 1-855-219-6008 or fill out our recourse factoring application form. It just takes just a couple of minutes, and we will contact you with a quote in less than 24 hours.
There is no risk, fee or obligation for receiving an invoice factoring quote from Charter Capital.
If you offer credit to commercial accounts, then invoice factoring is a flexible way to close the cash flow gap that is caused by slow paying customers.
Smart business owners realize that, with a factoring facility in place, there is no need to borrow money from a bank in order to offer credit terms to customers.
At Charter Capital, we make invoice factoring a simple process with minimal paperwork.
Cash-In Your Unpaid Invoices
Factoring companies like Charter Capital specialize in providing working capital funds to small businesses by converting your unpaid invoices into immediate working capital.
Sometimes, even the most savvy business owners are not aware of the hidden cash contained within their accounts receivable. Moreover, we can convert your accounts receivable into a readily available cash flow source in as little as 3 to 5 business days.
Charter Capital’s invoice factoring services are geared to accommodate companies in financial transition—a period during which your financial condition makes it challenging to receive funding from traditional commercial lenders.
Charter Capital has earned a strong reputation for assisting small businesses when other providers cannot.
Five Ways Factoring Companies Can Help Grow Your Business
Cash flow problems are one of the main reasons that many businesses fail. Factoring companies like Charter Capital can potentially provide you with instant cash for every single invoice. We act as an outsourced credit department, handling the collection and processing of payments for invoices, which enables you to grow your business without the stress of having to manage your cash flow.
1. Getting started
If you’re running a startup, you’re probably fully aware of how difficult cash flow can be. Oftentimes it seems like just when things get going, you’re already out of cash. Charter Capital’s invoice factoring services can help your company fill the cash flow gap as you get started.
2. Keeping your company going
Once your company is up and running, it is likely that you will still experience ongoing challenges with cash flow. Your invoices might begin to pile up, remaining unpaid for 60 to 90 days, sometimes even longer. Trying to continue your business with the lack of revenue from outstanding invoices can significantly deplete your cash flow. Working with a factoring company can immediately boost your cash so you can keep your business going. For many companies, there is a significant amount of capital tied up in accounts receivable. Using invoice factoring will free up these assets, and convert them into immediate cash for your growing business.
3. Lowering warehouse management costs
Factoring enables businesses to get cash before their invoices even collect, cash that can be used to increase their inventory, for example. Businesses can receive significant discounts when buying inventory in large quantities and these savings often outweigh the costs of Invoice and accounts receivable factoring. The cash from factoring can be used to prepay your vendors, or to pay vendors COD giving you the flexibility to negotiate price reductions or even invoice discounts for prompt payment. You can also use the cash to reduce the incoming costs of freight shipments by prepaying the freight company.
Factoring will improve your purchasing department’s position with vendors, as prompt payment gives your company a positive payment history. A decent payment reputation enables your company to negotiate more favorable agreements with vendors, making it even more acceptable to vendors to prepare and hold goods until your company is prepared to take the shipment.
4. Keeping up with payroll
Factoring can help your business pay its payroll. A good example is a staffing company: These companies start upside-down in cash and have to pay employees weeks, often months, before they are paid by clients. Factoring turns your accounts receivable and invoices into immediate cash. Therefore, it’s easier to make sure your people are being paid what they deserve on a regular basis. You get back valuable time when you aren’t dealing with invoice processing, which allows you to fully focus on your growing business, employees, and customers.
5. Capitalizing growth
Your business can benefit from capital expenditures when you work with a factoring company. Invoice factoring with Charter Capital could allow you to purchase new equipment, expand your warehouse or business, and make big marketing investments.
The factoring company basically accelerates the payments you would otherwise receive if you were to wait to be paid from your customers in the ordinary course, essentially providing you the cash tied up in your open invoices or accounts receivable for services you have already provided or for product you have already delivered. Working with Charter Capital frees up your time and resources, allowing you to focus 100 percent on the growth of your business instead of dealing with invoices, collections, and accounts receivable.
Get a free quote today from Charter Capital, and receive fast cash for your growing business! There are no obligation fees for completing our invoice factoring application, or receiving a quote.
Facts About Factoring Companies
Facts About Factoring Companies: Get Business Funding Without Borrowing
Factoring Companies help to offer relief for one of the main reasons businesses fail – poor cash flow. Even successful businesses, at one time or another, have experienced cash flow problems.
Conventional wisdom dictates that you must borrow money to inject cash a business. Don’t be fooled — banks are not the only places you can get business funding. Factoring companies provide an available solution in which companies would not have to incur new debt.
What is Factoring?
Simply, factoring is the process of selling accounts receivable to an investor rather than waiting to collect the money from the customer.
Factoring Companies have the financial backbone of many of America’s most successful businesses. Ironically, invoice factoring is seldom taught in business schools, is rarely mentioned in business plans and is relatively unknown to the majority of American business owners. Yet it is a financial process that enables thousands of businesses to prosper and grow and frees up billions of dollars each year.
Interestingly, factoring has been around in many forms for thousands of years. Factoring companies are private investors who pay cash for the right to receive the future payments on unpaid invoices. An unpaid receivable (invoice) has value. It is a debt your customer owes to your company and agrees to pay in the near future.
The Principles of Factoring
Although factoring companies deal exclusively with business-to-business transactions, a large percentage of the retail businesses use a form of factoring that is familiar to us all. MasterCard, Visa, and American Express all use a form of factoring in many retail transactions. In fact, these large consumer finance companies could be considered large factors of consumer paper.
Here’s an example: You make a purchase at the store and charge it to your credit card. The store gets paid almost immediately from the credit card company, even though you do not make payment until 30 day later or more. For this service, the credit card company charges the store a fee (usually two to four percent of the sale).
The Benefits Factoring can offer many benefits to cash-starved companies. Rather than waiting 30 to 90 days or longer for payment on a product or service that has already been delivered, a business can factor (sell) its receivables for immediate funding at a small discount off the amount of the invoice. Payroll, marketing, equipment and working capital are just a few of the business needs that can be met with this instant cash.
Factoring invoices provides funding for a manufacturer to replenish inventory and make more products to sell. There is no need to wait for earlier sales to be paid. Factoring is not just tool for manufacturers to manage cash since almost any type of commercial business can benefit from factoring.
Typically, most businesses that extend credit will have 10 to 20 percent of their annual sales tied up in accounts receivable at any given time. The fact is that you cannot pay utility bills or this week’s payroll with a customer’s invoice, but you can sell that invoice for cash in order to meet those obligations. Factoring receivables is a simple and fast process. The factoring company buys the invoice at a discount, usually a few percentage off the face value of the invoice.
The Costs of Using Factoring Companies
Savvy entrepreneurs consider the factoring discount a small cost of doing business. A four-percent discount for a 30-day invoice is common. Compared with the problem of having enough cash to operate, a four-percent discount is negligible.
Look at it this way: There is little difference between a prompt pay discount offered by many companies for invoices paid within terms, and the factoring company’s discount fee. Business owners consider the discount the same way they treat a discounted sales price: It is simply the cost of generating cash flow, much like offering discounts on merchandise is the cost of generating sales.
Receivable factoring is a funding tool used by a variety of businesses, not just the small or the struggling. Many companies use factoring to reduce the overhead of their own accounting department. Others use factoring companies to attain business funding, that can be immediately put to work to expand marketing efforts or increase production.
Why Are Factoring Companies Popular for Start-Ups
Factoring companies can be especially appealing to young and rapidly growing companies. Since using the invoice factoring process shortens the business cash-flow cycle, many businesses can get up-and-running faster. Virtually eliminating the wait for invoices to be paid, factoring provides immediate business funding to allow the start-up to rapidly expand services or manufacture more products to sell. Even when you consider the factoring company’s discount, these businesses usually net much more profit with factoring than without.
Call us toll free at (877) 960-1818 or contact us today to find out how easy it is to set up a Charter Capital FactorLine. One of our account representatives will be happy to assist you.