SITUATION
A start-up industrial labor staffing company lacked the immediate working capital necessary to provide extended payment terms to customers and support new growth opportunities. In addition to being too slow, conventional lenders were not interested in providing financing due to large customer concentrations. Alternative lenders were too costly. A colleague, who also factors with Charter Capital, referred them to us as the most practical alternative.

SOLUTION
Charter Capital assessed the company and current concentrations and determined the situation was fundable. We quickly structured a $500,000 funding line, which gave them the confidence to take on new business knowing that funds would be available to cover operating costs as they invoiced for their services.

RESULT
Charter Capital’s solution gave the Client the flexibility they needed to support extended terms required by some customers, enabling them to secure even more new business. They added $200,000 per month of new business revenue that they otherwise would not have been able to support.

ABOUT CHARTER CAPITAL
Headquartered in Houston, Texas, Charter Capital specializes in accounts receivable funding and offers a complete line of financing solutions including invoice factoring, related financial services, equipment financing, and other cash flow solutions. Dedicated to helping small to medium size businesses grow, Charter Capital partners with each customer to position them for future growth and success. They leverage their expertise to structure customized financing and overcome capital hurdles. With deep experience in the transportation industry, clients also come to them from the staffing, manufacturing, distribution, environmental, oil & gas industries, and many others.

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