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Overnite Capital continued from page 58
factored before is a bit of a chal- lenge,” says Battaglia. “It’s a completely different concept to many, and since we’re a national company, you have to close that deal over the telephone, which I think we’re very adept at doing. But it still requires a learning curve. A company may have four million in sales, never fi nanced before, then along comes this concept called factoring, which is different than a traditional bank line, because of the fact that we have to handle the cash; mean- ing that the customer pays a lock box, and we control that cash. That’s how we’re able to get com-
fortable making the loan.” Overnite Capital’s pricing is
pretty much the same as what a business would get if it quali- fi ed for a traditional bank loan, but the difference is the fact that Overnite Capital purchases re- ceivables at a discount in order to lend the money. “I separate it into two buckets,” says Battaglia. “You have the loan, and then you have the service element,
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our back offi ce, that purchases the receivable to create that loan. The businesses we deal with want to verify that we have a good service component to our back offi ce, and that we’re go- ing to treat our customers fairly, their customers fairly, and our clients fairly.” ■
For more information: Overnite Capital 2817 Carlaris Road San Marino, CA 91108 Tel.: 562-716-1106 Fax: 714-908-1586 Email:
kgeorge@overnitecapital.com Website:
www.overnitecapital.com
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