Charter Capital News Releases
- 7 Ways Business Leaders Can Prepare for Success in 2022
Business leaders face challenges unlike anything else seen in the past. From absenteeism related to COVID-19 through supply chain issues and morale, what it means and… - 5 Reasons to Hire a Collection AgencyWondering if it’s time to hire a collection agency? We often think of collection agencies in terms of the consumer market. For example, retail stores and…
- 3 Benefits of Combining Factoring and PO FinancingVery few things excite business owners more than receiving large purchase orders. Unfortunately, the joy is often short-lived as reality sets in. How can you accept…
Business Financing and Invoice Factoring News
- 7 Ways Business Leaders Can Prepare for Success in 2022
- 5 Reasons to Hire a Collection Agency
- 3 Benefits of Combining Factoring and PO Financing
- 6 Leadership Secrets Every Small Business Owner Should Know
- How Factoring Can Help You Maintain Healthy Relationships with Your Suppliers
- U.S. Bank Holidays: The Calendar and Backstories of Those Beloved Days Off
Small Business News
- 7 Ways Business Leaders Can Prepare for Success in 2022
- 5 Reasons to Hire a Collection Agency
- 3 Benefits of Combining Factoring and PO Financing
- 6 Leadership Secrets Every Small Business Owner Should Know
- How Factoring Can Help You Maintain Healthy Relationships with Your Suppliers
- U.S. Bank Holidays: The Calendar and Backstories of Those Beloved Days Off
Trucking and Freight News
- QuickPay vs Factoring: What’s the Difference?
- How has the Coronavirus Pandemic Affected Fuel Prices?
- Was 2019 Just a Pothole for Trucking? Or Something More?
- Female Drivers Revolutionizing the Trucking Industry
- The Streets are Paved with Gold for Gear Jammers as America Celebrates National Truck Driver Appreciation Week
Credit, Economy and Business Finance News
Articles of Interest
BUSINESS WEEK
A recent Business Week article has some excellent tips for small businesses about managing cash flow. One of the suggestions it makes: try invoice factoring. It features the following interesting case study about a small Florida business explaining how a factoring company kept them independent:
Broward Aviation Services of Pompano Beach, Fla., buys and sells commercial airplane parts. So it needs plenty of ready cash to buy before competitors do. That lets it get a better price, too. “If you have cash, the deals come to you,” says Timothy Pine, vice-president and partner in the nine-employee, $7.5 million company. When Pine co-founded the company in 1999, cash was tight and banks turned down his requests for credit. Broward sold its receivables to a factor, GE Capital, immediately receiving about 80% of their value and the rest as GE collected from Broward’s customers. Then Broward could forge ahead without taking on venture capital. Plus, says Pine, “The banks won’t lend to you until you’ve built up a cash record. Factoring allowed us to stay independent.”
THE WALL STREET JOURNAL
A recent Wall Street Journal article has some excellent tips for small businesses about managing cash flow through accounts receivable factoring:
Factoring isn’t for everybody. But for companies that need cash quickly – or don’t want to hassle with banks – it’s one way to go., writes Richard Gibson of The Wall Street Journal.
The article concedes that invoice factoring is a great way for some businesses to get started, because companies with little or no credit history can acquire cash. What most concerns factoring companies is the credit worthiness of the end customer, not the business or its owners.
