Factoring receivables company Universal Funding announced today that Q4 of 2012 ended very strongly with over $3,000,000 in new lines of funding credit issued.
“This bodes well, not only for Universal Funding, but also for our clients that use our services for factoring invoices. It’s indicative of a stronger economy than what the reported numbers might lead us to believe”, says Principal Henry Wozow.
Universal Funding may be just one company, but it’s in a bellwether industry, with its finger on the pulse of America’s small business owners. These businesses are utilizing factoring companies to increase their cash flow through existing assets; their receivables and invoices. These small business owners appear to be using this cash not just to survive, but to grow.
So, even if the US Department of Commerce reported that the country’s Gross Domestic Product (GDP) fell, many economists and business leaders see a strengthening economy as businesses prepare for moderate growth through 2013.
Universal Funding, through its factoring services, is a very attractive alternative to bank loans. In most cases, the client’s invoices can be advanced with low fees and fast turnaround, often in a matter of days. More and more businesses are turning to this attractive financing alternative.
In as tight an economy as the US is currently experiencing, factoring invoices is a great option for financial growth. As a prelude to what is to come in 2013, Universal Funding began funding nine new clients during the fourth quarter of 2012. Here are a few examples of the kinds of companies that utilize factoring services:
- A $2M account limit for an oil field consulting firm in Oklahoma.
- A $400,000 account limit for an e-commerce analytic platform service in New York
- A $300,000 account limit for a sign manufacturer in Washington.
- A $250,000 account limit for an industrial supply company in Ohio.
- A $200,000 account limit for a plastic injection molding company in California.
These companies are using their assets of products and services already sold, factoring their invoices with Universal Funding so they don’t have to wait their typical 30-90 days to make use of their liquid assets.
Factoring is not new to the business world, but what makes Universal Funding unique is its roots of family ownership and its customized customer care. Universal Funding takes the time and energy necessary to get to know each of its customers and then creates a customized program that’s unique to that customer and their needs.
Not all businesses are the same, nor are their financial needs. That is why any factoring receivables agreement should be highly tailored to the specific needs of the business.
For additional information about factoring, contact Universal Funding at https://www.universalfunding.com or call (800) 405-6035.