Business
Capital Financial Global Gains Momentum With Increased Demand For Invoice Factoring In Its Commercial Finance Division As Companies are Requiring Extra Capital To Make Strategic Moves Driven By New Opportunities
Capital Financial Global Gains Momentum With Increased Demand For Invoice Factoring In Its Commercial Finance Division As Companies are Requiring Extra Capital To Make Strategic Moves Driven By New Opportunities.
About this update from Capital Financial Global, Inc.
[{"type":"text","content":"\n SALT LAKE CITY, April 02, 2020 (GLOBE NEWSWIRE) -- Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it is gaining momentum in its invoice factoring operations. The Company acquired its invoice factoring capacity a year ago through a merger with Affiliated Funding Corporation and operates the division as part of its Commercial Finance Division. “Right now we have more demand for our invoice factoring services than we expected,” said Paul Edward Norat, CEO of Capital Financial Global. “We’re seeing many stable companies looking to use invoice factoring, not only as a way to protect themselves against potential cash flow fluctuations, but also as a source of extra cash to make strategic moves driven by these new opportunities.” Invoice factoring is an effective way for companies to meet cash flow demands by getting an advance against their accounts receivable. Capital Financial Global offers invoice factoring to businesses that can demonstrate strong credit worthiness in their customer base. As a recent highlight, the Company provided an $800,000 credit facility to a non-regulated hazardous material remediation company based on the east coast. “This 20-year-old company had confidence in our ability to assist them with their unprecedented growth,” said Mr. Norat. “This demonstrates that there is demand for our services in a wide range of industries and without geographical constraint. Additionally, this validates our business model and is a positive sign for the long-term accomplishment of our goals. From here on, I believe the growth trajectory of our factoring portfolio will remain upward.” Adding to its existing book of factoring business, the Company provided over the last year new factoring facilities for several established businesses including, a plastics injection molding company, an over-the-counter supplement distributor, and an apparel wholesaler to major retailers, totaling more than $2.75 million in available credit lines provided. Capital Financial Global is now in talks with a burgeoning pipeline of new factoring opportunities in several industries across the country. “The challenge for us now is to be able to meet the steadily increasing demand,” continued Mr. Norat. The commercial finance division, including invoice factoring, ...