Continental has a proven track record of evaluating individual needs and providing financial solutions that produce solid results. Companies with limited working capital or net worth are considered in addition to companies with historical losses, with a viable turnaround plan and cash flow projections.
Purchasing of accounts receivable without recourse based on credit approvals on submitted customer orders.
Credit and Collection Services
We provide credit checking and collection services.
We provide machinery and equipment loans only in conjunction with an asset-based revolving loan.
We provide funding for acquisitions.
Loan amounts are based on a percentage of forced or auction liquidation value of the pledged assets. Term loans are coterminous with the revolver, even though amortization schedules may be 3-5 years.
We provide purchase order financing in conjunction with accounts receivable financing or factoring.
Typical term for either A/R revolver or factoring is 1 to 2 years with an annual renewal thereafter.
Prime plus 3% to 6% on factoring advances; with prime plus 6% to 16% on A/R financings.
Factoring commissions range from 1.0% to 2.5% of the purchase price of the accounts. Commitment fees of .5% to 2.0% on revolving loans usually apply depending on rates and term of agreement.
