Daily News: March 12, 2012

Porter Capital Closes $3 Million in February Factoring Deals

Porter Capital Group said its Porter Billing Services and Porter Capital Corporation divisions closed a total of seven factoring deals in February for an aggregate amount in excess of $3 million.

Porter Billing Services, specializing in transportation funding, said it closed the following transactions:

  • a $30,000 factoring facility to a company in Smyrna, GA;

  • a $50,0000 factoring facility to a company located in Columbus, GA and

  • a $75,000 factoring facility to a company in Atlanta, GA.

    Porter also said its Porter Capital Corporation division funded the following deals:

  • a $300,000 factoring facility for a merchandising company in Little Falls, NJ;

  • a $500,000 factoring facility for an IT/telecom company in Birmingham, AL;

  • a $600,000 factoring facility for a lumber distributor in Montgomery, AL

  • a $1.5 million factoring facility for a printing/office supply company in Westminster, CA.

    Headquartered in Birmingham, AL, The Porter Capital Group includes in Porter Capital Corporation, Porter Billing Services, Porter Bridge Loan Company and CapitalPartners Leasing. The Porter Capital Group specializes in customized funding packages for small- and medium-sized businesses.