Charter Capital Forms 'Rapid Response' Business Unit to Provide Factoring Services to Financially Underserved U.S. Small Businesses

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Financial Services Company Increases Available Funds and Service Capacity Aimed At Accommodating Urgent Needs Of Increasingly Diverse Small Business Enterprises.

Charter Capital, recognized as one of the most flexible providers of working capital to small and mid-sized businesses, announced today the formation of a special businesses unit designed to provide working capital funding and related financial services to increasingly underserved small business enterprises. A unique feature of the new department is its emphasis on bilingual capability. Dana Santiago recently joined Charter Capital as a business development officer.

Before joining Charter Capital, Ms. Santiago spent several years in the banking industry. At Wells Fargo and Bank One, Ms. Santiago specialized in satisfying the commercial and private banking needs of Latino business enterprises and Latino owners.

"The Rapid Response Business Unit exemplifies our commitment to diversity and to satisfying the financial needs of certain underserved business segments," said Director of Operations, Keith Mabe.

The number of Latino-owned businesses in the U.S. is expected to increase by more than 50 percent by 2010, according to estimates by HispanTelligence®. This increase is expected to produce more than $465 billion in total revenues for the market by 2010. By 2050, according to the most recent U.S. Census Bureau projections, Latinos will make up nearly one-fourth of the nation's population.

Headquartered in Houston, Texas, Charter Capital (http://www.chartercapitalusa.com) provides accounts receivable financing (also known as factoring) and asset-based lending for businesses nation-wide including: freight and transportation, medical service providers, consulting firms, service providers, staffing firms, distributors and manufacturers. Charter Capital also serves business in Dallas, TX; San Antonio, TX; Austin, TX; Atlanta, GA; Albuquerque, NM; Phoenix, AZ; Nashville, TN; Indianapolis, IN; Oklahoma City, OK; and cities nationwide.

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