85% of new clients working with Universal Funding in December and January are based in the southern region of the United States. These statistics are not surprising when you look at the State Economic Growth Rankings that were published in the second half of 2014 by Business Insider. They based their ranking on eight changing economic measures: unemployment, non-farm payroll jobs, GDP, wages, working age population, value of international exports, housing prices, and auto sales. Universal Funding’s new clients that started an invoice factoring finance program in January are based in Florida, Arizona, and Texas which are ranked #6, #4, and #3 respectively.
“Certain states in the south are experiencing a very healthy growth pattern over the past 5 years. We will continue to see developing businesses that require our services in states like Texas, Arizona, and Florida. As a region becomes more economically sound the businesses that support those communities are pumping money into the local economy by providing jobs and by purchasing supplies and services from other local businesses,” states Kyle Bergstedt, President of Universal Funding. “As they grow, cash flow issues can arise even with improved revenues.”
The new clients that Universal Funding acquired in January include:
- A $800,000 /month factoring facility for a commercial paving operation out of Florida,
- A $250,000 /month factoring facility for a custom crating company in Texas, and
- An $150,000 /month facility for an asset recovery firm in Arizona