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Highlights of Western Capital Partners.
(a general partnership)
YIELD: A yield that competes with any income fund
* 16% average annual return in the first five years and increasing higher yields in years 6 through 10. Interest paid monthly!
* The Partnership has met approval from a major custodial firm for IRA's, 401(k)'s, and pension funds.
LIQUIDITY: The Investment has the liquidity of a Corporate Bond
* With a full term of 10 years to maturity, investors are not only in direct control of the cash invested, but they can pull out unilaterally upon 90-day notice.
SAFETY: The safety features of an Annuity
* The capital is placed in a trust account with a major Securities Firm, under Western Capital Partners (the investors) and can never fall below the initial balance.
* Commercial short term collateral, duly underwritten and insured by a 100 year old A+ "Superior" AM Best rated insurance company backs every cash transaction, monitored by the investors and the Partnership's Accountants.
* Investors can evaluate performance on a monthly basis by the distributions they receive.
* All income generating business activities are performed by THE OPERATOR, a California Corporation under a rigid Service Agreement with the Partnership, thus eliminating any liability exposure to the Partnership.
Western Capital Corporation
Summary of Factoring Accounts Receivable
A safe alternative to low interest rates is the short term, revolving factoring of accounts receivable from qualified, rated, underwritten and insured collateral.
This 10 year investment carries an average annual return of 16% to the investors in the first five years alone, while the safety of the principal remains in the investor's control, in the partnership trust account with Oppenheimer & Co. Inc.
Western Capital Corporation takes advantage of the financial needs of the small business by offering factoring of accounts receivable to an underdeveloped market, and distributes the lion's share of the profits to the General Partnership with SAFETY, LIQUIDITY and a SUPERIOR AVERAGE ANNUAL YIELD.
How The Factoring Program Works
When an invoice is bought by a factoring company, the factor checks out the following; (a) the debtor for his credit ratings, (b) the debtor's recent paying history, (c) the debtor's receipt and acceptance of the goods in question, (d) filings in any court in the country for adverse suits effecting the debtor's ability to pay, (e) the credit history of the company's officers to insure their longevity, and their ability to pay the invoice when the time comes.
The credit rating of the small business that these invoices are purchased from is not of paramount concern, after all they do not have to pay the invoice In addition, when an invoice is bought, the factor not only acquires beneficial ownership of the invoice, as the purchaser of the invoice, the factor immediately files a UCC-1 with the Secretary of State to insures that the factor is legally the owner of the product or service for which the invoice was issued.
The underwriting process properly performed by the factor, renders the account receivable invoice equal or superior in safety to most rated commercial paper issued by banks. It is well known by the asset based lending community that a bad debt is originated from inadequate underwriting
Once an invoice is underwritten and approved for factoring, including placement of credit insurance by a solid insurance company, such as American Credit Indemnity (a division of Dun & Bradstreet), it is better than commercial paper. The reason is that commercial paper has a fixed value. In contrast, the factor will reap a greater percentage of profit as the invoice ages, and once contracted, no party can rescind. To sweeten the deal, the factor retains a large deposit on the purchase, of approximately 20% to 30%. From this, the factor insures his fee, whatever it may be upon maturity of the invoice. Thus, for a factor to obtain 40% to 80% gross profit per annum is not unrealistic. This factoring contract does not violate usury laws because the factor is not making a loan but instead a straight commercial purchase with conditions.
Of course, when the small business owner evaluates selling his invoices to a factor, he simply sees the meager 2.75% rate for 30 day term; that's cheap enough. Would a small business be moved to discount an invoice 2.75% for payment in 24 hours? YOU BET!
On the other hand, would the small business pay 10% for the factor fee? Very unlikely, but then again nobody expects the debtor to string everybody out for 60-90 days; but that is the reality, and it happens all the time. So, if one knows the outcome beforehand, it's easy to convince an undercapitalized manufacturer that the fee is very reasonable, unless of course, the debtor pays late and then the fee grows rapidly The main point to remember in defense of the factoring rate, is that a small business can grow at a much healthier and faster pace if it has an uninterrupted cash flow.
The Structure Between Western Capital Partners And Western Capital Corporation
Western Capital Corporation (WCC) conducts the business of factoring. WCC obtains the factoring accounts, underwrites, funds, files the UCC-1 with the Secretary of State, and places credit insurance for each transaction. Seventy percent (70%) of the profits are paid on a monthly basis to Western Capital Partners (the Partnership), in addition, the investors original capital account is replenished every year, as convened in the service agreement. Since the Partnership takes no active role other than collecting profits, controlling the trust account, and allowing the Corporation to be its operator, the issue of liability as a General Partner, is a moot point.
The Corporation utilizes the working capital to operate the business as strictly stipulated in the service agreement. Any deviation by the Corporation will render its officers subject to fraud. In addition, the Partnership can audit the Corporation anytime without notice and withdraw the funds from the Partnership Trust Account. The Trust Account is under the sole name of the Partnership with a limited power of attorney that facilitates the Corporation to operate daily. One could compare the investors control of principal to an individual buying a CD from a bank, a mutual fund, or a stock If there is any dissatisfaction with the investment, the investor has the ability to withdraw his funds, and take legal action, if necessary. The Trust Account Service Agreement in itself places responsible performance at its highest priority on the shoulders of the Corporation and its officers.
This Partnership Agreement is the result of two years of meticulous research and planning. Our underwriting guidelines are strict, with limits on the amount to be factored to any one company. The safety of the Partnership funds is of paramount importance, as is the yield and liquidity of these funds. We urge you to read the offering memorandum in it entirety This is a document that your agent can be proud to present, for it emphasizes SAFETY, ABOVE AVERAGE YIELD, and LIQUIDITY. There are no hidden bomb shells for you as a client.
NEW BUSINESS TRANSMITTAL
Western Capital Corporation
Proposed Partner: ___________________________
Home Phone: ___________________ Bus: Phone: ________________
Tax ID# ________________________ DOB: _____________________
Marital Status: ___________________ #Dep.: _____________________
Annual Income: __________________ Net Worth: _________________
Unqualified Funds: __ Qualified Funds: ___ IRA: ____ Pension: _____
401K: ____ Other: ____
Custodial Service/Transfer Agent Name: _______________________________
Address: ________________________ City: _______________________
State: ___________________________ Zip: _______________________
Number of units: __________________ Amount :$ __________________
Check: __________________________ Date of Check: _______________
Cashiers Check: ___________________
Wire Order: _______________________ Date of Transmission: _________
Date of Subscription Agreement: _______________________________________
Date Sent: _________________________ Via: ________________________
Trust or Corporation Information
Trust/Corporation/Partnership, Name: ____________________________________
Trustee/Corporation/Partnership, Pres.: ___________________________________
Trust/Corporation/Partnership, Address: __________________________________
Trust/Corporation/Partnership documentation must be filed with the subscription agreement.
Agent: KIS Group, Inc.
Agent phone Number: 925-828-9643
The above information provided by and are the sole responsibility of :
Western Capital Corporation
OTHER FINE PROJECTS AVAILABLE. PLEASE REQUEST DETAILS!
ALL FUNDING FINANCING AND LEASING PROJECT INFORMATION AND DETAILS ARE PROVIDED BY OWNERS AND/OR THEIR REPRESENTATIVES AND ARE DEEMED ACCURATE AS RECEIVED BY KIS. DUE DILIGENCE IS THE RESPONSIBILITY OF THE INTERESTED PARTIES. ALL PROJECTS ARE SUBJECTED TO AVAILABILITY AND CAN CHANGE WITHOUT FURTHER NOTICE. NEITHER THE
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