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, forms an informal business segment that will supplement CFGX’s ongoing real estate and life settlement backed funding pursuits.
Disclosures can be found on the Company’s website and its online disclosure portal at:
https://www.capfiglobal.com/
https://www.otcmarkets.com/stock/CFGX/disclosure
About Capital Financial Global, Inc.
Capital Financial Global, Inc. (CFGX) is a specialty finance company that offers asset-backed financing and loan advisory services.
Our Market Positioning & Differentiation
Unlike traditional banking models, CFGX offers organizations needed liquidity by using an asset-backed approach rather than a traditional credit approach to originating new loans, buying and selling existing loans, and converting distressed collateral into cash or trade-able form.
Our Revenue Model
We seek revenue from loan fees, interest rate spreads on loans and investments we hold, and margins on loans and investments we sell in whole or in part to institutional investors, hedge funds, or other secondary market participants. We also seek revenue by charging loan servicing fees, and fees for other finance related consulting engagements.
Forward-looking statements:
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
For more information, please contact:
Capital Financial Global, Inc.
Investor Relations
Tel: +1-801-747-2000
Email: ir@capfiglobal.com
https://www.capfiglobal.com/
Twitter: @CFGX
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