As a business consultant and broker, you have firsthand knowledge when your client’s business is struggling financially. Perhaps you see a client with increasing revenue and profits but they still struggle with cash flow management. Have you ever considered suggesting receivable financing for these clients? When businesses struggle financially even though orders are steady, it’s discouraging to think about growth and expansion. As a broker, your clients look to you for solutions and we’d like to partner with you for clients that would benefit from receivables financing.
Receivable financing is a service that can help your clients that are facing cash flow shortages. When you submit your contact(s) as a referral, you develop a relationship with one of our Business Development professionals. We work with you to help your clients understand the process of factoring accounts receivable. We want to forge a strong relationship with our brokers and we’re putting our best foot forward by offering a competitive broker commission plan. We back this up by treating providing your clients with a seamless process, a high level of personalization and interaction. Read more
The technical definition of debt factoring is the sale of a business’ invoices to a third party. The third party is charged with processing the invoices, and the business lending the invoices is able to receive advances based on the expected payments on the invoices.
Debt factoring is another term for what it is we do here at Universal Funding. We provide invoice factoring services that allow your business to get free from the burdens of debt and get back on track with a financial plan that can increase profits and production. By using your A/R as an asset, there is no debt accrued with the transaction. Debt factoring allows you fast access to your profits.
All of the weight and worry of collecting payment will be lifted off your shoulders, by simply selling your accounts receivable to factoring company like Universal Funding. Our advance rates are as high as 70%-95% of the value of the invoice and our factoring fees start as low as 0.55% so that you get the most out of factoring your invoices.
The older the invoices, the less value they have. You will receive less money if the invoices are quite old and are still yet to be paid. However, if they are fairly recent, this can improve the value of your invoices and provide you with better financial options. We provide the money that gets businesses going again and we thoroughly love our job.
If you are in need of immediate funding and have invoices to factor, please call 1-800-405-6035 or click here, and one of our Business Development professionals will follow-up with you.
Are you facing financial issues in your business that is preventing you from paying your employees? Whether you have five or five hundred employees, they deserve to be paid on-time every month. We typically see payroll shortages in the staffing and temporary personnel industry, however many companies who experience seasonal dips in income face payroll hardships.
The good news is that Universal Funding can help! Our team is experienced in working with companies to work through cash flow shortages to make payroll obligations. We offer advances to companies that have proven to be profitable but may be facing a temporary shortage. Unlike traditional loans or working with other factoring companies with high rates, Universal Funding is privately funded and is able to offer low rates.
Grow Your Business
In fear of needing reserves to make payroll, many business owners will not take many chances to grow their business. Payroll financing can allow you to use your reserves to generate new business through new lead generation, bids or additional hiring. Have you ever wondered how your competition can grow and prosper in these economic times? Chances are they were factoring invoices to assist with payroll funding.
If you are interested in using payroll finance call 1-800-856-7014 to speak with one of our Business Development associates or get your rate today!
Universal Funding Corporation, a leader in the business finance industry, has two new ways to help its clients succeed and grow.
First, the company implemented eFactor, an innovative software application allowing clients to view account balances, get payment details, view detailed activity reports and directly upload invoices to be purchased; all in a secure online environment.
The software helps streamline the process of funding and eliminates the need to fax or mail reports when requested by clients. Universal’s clients have access to their account information anytime they wish.
With eFactor, clients can run real-time reports such as Debtor Payment History, Collections, A/R Aging, Advance Rates, Reserve Balances and more.
Secondly, since accounts receivable are vulnerable to unexpected losses but are typically the only major asset left uninsured, Universal Funding now offers AR insurance. This program provides in-depth credit analysis and ongoing account monitoring to provide early warning of potential credit risks before they become a loss. This service provides valuable protection to the company’s clients against the consequences of customer insolvency and non-payment.
Universal Funding prides itself on providing workable solutions and customized finance plans to meet the needs of almost any company. Universal Funding’s strategic plan for growth includes providing clients with the best tools, funding and support to grow into highly profitable businesses. The peace-of-mind of accounts receivable insurance and the convenience of eFactor help meet those goals.
Your company’s accounts receivable are considered to be a type of asset, and as such can be sold as collateral.
Some companies sell their accounts receivable to a factor at a discount. This allows the company to focus on the core of their business with a new surge of cash through factoring. The factor can purchase the accounts receivables with recourse and non-recourse terms. Click here to read more in-depth about the varying terms.
Selling accounts receivable at a discount is a great way to inject some much needed capital into your business whether you need to finance your payroll, pay for services or equipment, or even build venture capital to grow your company. It is especially attractive to businesses that cannot, due to a poor credit rating or a host of other reasons, get traditional loans. Even if you have a good credit past, you may simply be a victim of the times as the turbulent economy has made many banks much less willing to lend money.
Contact us today at 1-800-405-6035 to speak with one of our factoring specialists or get started with your risk free quote.
As a small business owner, you face many more challenges than a large company during these hard economic times. Cash flow is the key to success and can often mean survival in these competitive times. With the average number of days for customers (particularly large companies) to pay invoices nearing 90 days, it is no surprise why so many small businesses face challenges in growing their businesses. Invoice Factoring can be a great financial solution; it allows a business to quickly raise working capital by using their accounts receivables.
Universal Funding is a financial services company that provides personalized capital funding programs (invoice factoring, accounts receivable financing) to meet your cash flow needs. With over 65 years of combined experience our team has the expert knowledge to help your business grow and succeed.
Universal Funding is a stand-alone financial entity. All principals are on site, work shoulder-to-shoulder with our management team, factoring specialists and customer service agents to ensure direct interaction with our clients. We want you to know exactly who we are and how we do business. In turn, we’d like to get to know you and how we can best fulfill your business needs.
Contact us at 800.856.7014 or email us at email@example.com
To learn more, please go to our Get Rate page.
If you’re familiar with invoice factoring, you know that it’s a common form of business financing that frees up cash for growing businesses.
What you might not know is that factoring can free up a whole lot more than just cash, making your business run even smoother.
How is that possible?
When factoring with Universal Funding, your program will include ways to:
When taking on new customers, you can’t be sure of their creditworthiness. We remove that worry by giving you access to our in-house credit department, which will tell you if the customer represents any credit risk. The more knowledge you have about your customers, the better!
- Solve collection problems
With two in-house attorneys and a collections department, we can gently nudge over-due payers and make sure you get your money, while respecting your customer and giving you the freedom from ever needing to place another collections call.
Universal Funding can keep track of your accounts receivable, freeing up time for you to focus on other areas that can result in more business. Outsourcing your AR can save a considerable amount of money and hassle!
- Answer tax questions and solve problems
If or when tax problems or questions arise, Universal can work directly with the IRS to make sure the issue gets solved.
By factoring with Universal Funding, the problem of slow payments goes away. You get paid on your invoices right away, and we wait the 30, 60 or 90 days for your customer to pay.
When considering all of the extra ways factoring can help save money, its value becomes quite apparent. Factoring is a cost effective and efficient way for business owners to outsource several time-consuming responsibilities while saving money and, ultimately, increasing profits.
Invoice factoring has been around, in some form or another, for centuries. It’s one of most tried and true forms of business financing out there.
Like all things in this day and age, technology has impacted the evolution of factoring. Businesses have begun to sprout up offering online auctions for a company’s receivables, where a business owner can post an invoice and have random investors buy it for a discount.
In theory that means an easy way to generate quick cash flow on an as-needed basis. Plenty of companies have tried these online factoring services, but some problems are beginning to surface. Problems that don’t happen when using a factor like Universal Funding.
When using an online auction-type factor, you never know who is buying your invoice. In fact, one invoice could be split between more than one investor. That may not seem like much a problem… until you consider that each invoice will be verified by the investor who buys it. That means your customers will be the ones bombarded with calls attempting to make sure the invoice is genuine. Do you want your customers dealing with the inconvenience and frustrations of that? That’s especially true if you do repeat business with the same customer over a long period of time. That customer is going to get awfully sick of fielding phone calls from different people every time you invoice them!
By factoring with Universal Funding, you still get a great rate and you get your cash just as fast. Plus, you always work with the same person and you know who is buying your invoices and can rest assured you and your customers will be treated with complete respect.
Unlike the auction sites, we are not a one-shot wonder factor. We build relationships with our clients and debtors and help businesses grow. We believe in and have adapted the latest technologies into our business, but one thing we’ll never stop doing is partnering with our clients and investing ourselves personally into their growth and success.
As our industry evolves, you can be sure our commitment to you and your business never changes.
A potential client of ours recently said he was trying to decide between using a merchant cash advance loan or invoice financing to fund his business.
Both funding sources have benefits, but there are some key differences to keep in mind if you find yourself facing a similar decision.
First of all, the cash advance is essentially a short term loan. Some companies classify it as a “sale of future credit card sales,” which shields them from interest rate limits, which can range from 10 to 100 percent. The bottom line, though, is it creates a debt that must be repaid, typically through a percentage of future credit card sales.
The benefits are immediate cash and an easy application process.
Invoice factoring is not a loan and creates no new debt. There is no money to pay back, ever. After an easy application process, funds are deposited immediately based on the value of your accounts receivable. Perhaps best of all, the financing line increases as your sales grow.
When Universal Funding is your provider of invoice factoring, rates can start as low as 1 percent. And with the added benefits of working with Universal, you have access to free business advice, tax help, credit checks on new customers and the option to obtain A/R insurance.
Choosing the right form of business financing is a huge part of any company’s success. If you’d like to discuss how invoice factoring can benefit you, as the gentleman mentioned in the opening paragraph did, please contact us today!
He’s the latest to benefit from our funding services, maybe you can be next!
Eleven companies were approved last month to begin taking advantage of the financial services offered by Universal Funding Corporation.
Industries represented include medical, government, manufacturing, janitorial, media, freight logistics, corporate safety and staffing.
The companies combine for a total line limit of $3.15 million per month, all of which is debt-free money the companies can use to grow their businesses. In addition, they have access to Universal’s credit screening services, tax assistance and accounts receivable insurance program.
The Universal Funding family is better off for having these companies as clients, and we look forward to helping them with their financial needs and watching them grow to their full potential.
As always, if you own a business, or know of one, that might benefit from financing through Universal Funding, contact us today and we’ll be happy to discuss your needs.