• For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
Facebook Twitter Instagram
Thursday, March 23
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources
Facebook Twitter Instagram
WholesaleCentral.com Blog
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
WholesaleCentral.com Blog
Home»Featured Products»Product News»Overnite Capital Lives Up To Its Name
Product News

Overnite Capital Lives Up To Its Name

PublisherBy PublisherSeptember 1, 20103 Mins Read
Facebook Twitter Email
Share
Facebook Twitter Email

Sometimes it takes a while to figure out why a company has the name it does. Not so with Overnite Capital, because in the case of this California based lender, that’s exactly what they provide. Overnite Capital finances the commercial receivables for vendors to retail, so that the manufacturers selling product to retailers on net 30 or net 60 day terms can have the ability to draw cash against their invoices, in advance of payment from the buyer. Advances can be as high as 90 percent on the invoices, depending on the industry. For example, for a company selling apparel to retail, the advance may be 80 percent on the invoices.

“Overnite Capital began in 2007, after I had been in the brokerage business for a number of years for a company called, Capital Solutions,” says co-owner, Brian Battaglia. “I had 16 years experience in the business. Overnite Capital was started to fill a void in the market, for companies with two million to 40 or 50 million in sales, whose operators or owners do not want to pay a minimum commission, but want a reasonable rate and fast service.”

The company serves a broad spectrum of wholesalers, but if there is any specific concentration, it would probably be in apparel manufacturers. Battaglia attributes this to their being most amenable to the practice of factoring, since it’s well known in their industry. But Overnite Capital is a generalist as finance companies go; it’s meant to handle any kind of business in which invoices are created and cash is on hand. For those companies, the potential for growth and expansion exists as a result of doing business with Overnite Capital. The extra layer of capital that they provide can make the owner more money, but the service is not geared for companies that are on the downswing.

“The fact that a lot of our clients have never factored before is a bit of a challenge,” 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 financed 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; meaning that the customer pays a lock box, and we control that cash. That’s how we’re able to get comfortable making the loan.”

Overnite Capital’s pricing is pretty much the same as what a business would get if it qualified for a traditional bank loan, but the difference is the fact that Overnite Capital purchases receivables 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, our back office, 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 office, and that we’re going 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
Website: www.overnitecapital.com

finance
Share. Facebook Twitter Email
Previous ArticleWorking Well With Others
Next Article Chef Craft for Top Tools

Related Posts

2023 Wholesale Apparel Trends

March 14, 2023

Top Wholesale Easter Products

February 27, 2023

Overstock Liquidations

January 25, 2023
Sign Up for Buyer Updates
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Latest Posts

Amazon Return Pallets For Sale: How to Profit

March 20, 2023

2023 Wholesale Apparel Trends

March 14, 2023

Top Wholesale Easter Products

February 27, 2023

The Future of Sustainable Manufacturing is a Hybrid Approach

February 23, 2023

Make Money with Foreign-Trade Zones

February 22, 2023

Overstock Liquidations

January 25, 2023
how-to
Wholesale 101 for Buyers

Amazon Return Pallets For Sale: How to Profit

March 20, 202311 Mins Read

A big trend among some online sellers is buying Amazon return pallets and overstock and…

Product News

Overstock Liquidations

January 25, 20236 Mins Read

Overstock inventory refers to the excess goods or merchandise that a retailer has on hand…

Retail News

5 Essential Tax Season Preparation Tips

January 24, 202310 Mins Read

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions…

Wholesale 101 for Buyers

How to Create a Google Business Profile

January 18, 20236 Mins Read

Looking for new ways to get your brand noticed? Creating a Google Business Profile can…

  • About Us
  • Subscribe
  • Contact Us
  • Advertise
  • Find Wholesale Sources
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Follow Us:

Copyright © 2023. Sumner Communications, Inc..

Type above and press Enter to search. Press Esc to cancel.