Cedar Park, TX (PRWEB) October 12, 2007
Small businesses in need of working capital financing have a new option. Far West Capital provides invoice factoring, asset based lending, and similar services designed to provide growing companies with much-needed working capital. Based in Texas, the company serves customers nationwide.
Far West Capital is a specialty finance company that provides highly customized working capital services to small and medium-sized companies. These services can benefit any business with accounts receivable (invoices) that needs capital for sustained operation and continued growth. Companies can use the working capital they obtain through this service for a variety of business needs -- material acquisition, operating capital, turnaround financing, recapitalization and more.
Working Capital Finance, Explained
Working capital refers to liquid assets a company has with which to operate. By extension, working capital financing refers to various financial services that provide businesses with the capital they need to maintain their operations.
"Essentially, we provide companies with the cash flow they need to keep their businesses going," said Cole Harmonson, the company's president, "so our primary service is referred to as working capital financing."
Far West Capital provides financing through several channels:
- Factoring of Accounts Receivable - Customers sell their outstanding invoices or receivables in exchange for cash / working capital for their business. Also commonly referred to as invoice factoring services.
- Asset Based Lending - Customers present a borrowing base, which consists of their existing and ongoing accounts receivable and inventory. The customer then receives funding upon presentation of that base.
- Purchase Order Financing - Far West Capital assumes the customer's purchase orders in exchange for cash / working capital for their business.
A Factoring Company With a Difference
Leading Far West Capital is Cole Harmonson, who has more than 11 years' experience in the world of working capital financing and factoring. Harmonson explained what it is that makes Far West Capital different from other factoring companies within the working capital finance industry:
"We customize the relationship based on the needs of our clients. A lot of factoring companies preach that, but we practice it as well. Each client is different, so we start the process with this in mind, and then we create a financing solution around their individual needs. It's challenging for us, but it helps us differentiate our company by providing a more flexible service to clients."
Like Harmonson, the other members of Far West Capital are equally experienced in the world of working capital finance. In fact, the entire Far West team formerly worked together managing the Working Capital Finance Group of State Bank. Combined, the team has more than 25 years' experience with accounts receivable financing, invoice factoring, and other aspects of working capital.
An Educational Approach to Finance
Far West Capital also takes an educational approach to their business. Their website is packed with information that explains their services, and they've even started a working capital blog (a first of its kind) to further educate potential customers on the ins and outs of working capital financing. Visit the blog at http://www.farwestcap.com/blog/
"A lot of companies need our services without even realizing it," Harmonson explained. "They want to convert their accounts receivable into working cash flow, but they don't know how to go about it. Some have never even heard of factoring. That's one of the reasons we focus so heavily on customer education ... to connect our services with the needs of our potential customers."
About the Company
Far West Capital provides working capital to growing companies through accounts receivable and inventory financing tools. Based in Cedar Park, Texas, the company serves growing businesses across the United States. To learn more about the company and their financial services, please call or visit them online:
Safe Harbor Statement:
This release includes forward-looking statements about the company's products and services. All such forward-looking statements are subject to uncertainties that could cause actual products and services to differ from those in forward-looking statements.