Overnite Capital is all about helping companies succeed. Letters of credit are a practical solution for a company that has verified purchase orders from legitimate customers, but lacks the capital to complete the deal.
To this end, we work with long-term financial partners to structure letters of credit to our client’s suppliers; then Overnite Capital takes over when the invoice is factored. There are no monthly minimums and a single customer concentration is workable.
Letters of Credit 1-2-3
Here’s how it works:
- First, a letter of credit is opened to the suppliers (both domestic and overseas)
- When the final product is delivered to the customer – the invoice is presented to Overnite Capital
- Then, Overnite Capital pays off the letter of credit with an advance on the invoice, and the balance goes to our client
If you, or anyone you know, needs a letter of credit that will kick-start a great deal, please give us a call at (626) 695-2280