Receivable factoring company, Universal Funding announces the successful facilitation of five new factoring lines in the month of October. The October deals show a strong start to the last quarter of 2014.
“October is the time of year where businesses go into overdrive to prepare for the holiday season. They are building up inventory, hiring temporary staff, and putting a strain on cash flow,” says President Kyle Bergstedt. “Our factoring services ensure that these businesses have the cash flow they need to make the holiday season a success.”
The five new factoring lines for the new accounts that started funding in October represent 5 different industries; however 4 out of 5 new clients are in the Southern United States.
The factoring lines include:
A $400,000 factoring facility for a furniture distributor in Florida
A $250,000 factoring facility for a staffing company in Mississippi
A $60,000 factoring facility for a technical consultant based out of Texas
A $30,000 factoring facility for a manufacturer of biodegradable fluids in Louisiana, and
A $60,000 factoring facility for a trucking company based in Utah.
All new clients have access to Universal Funding’s credit screening services, tax assistance and accounts receivable insurance program in addition to the usual receivables financing program provided. These are services that most other factoring companies do not provide for their clients.