Factoring receivables company Universal Funding announced today that three companies were approved and funded for factoring services in February. Combined with a strong January, this equates to two straight stellar months for Universal Funding.
“What this means is that companies are experiencing an expansion phase, which is always a good indicator of a stronger economy,” says Principal Henry Wozow.
Universal Funding has its finger on the pulse of America’s business owners and financial decision makers. Many small and medium sized businesses are utilizing factoring companies to increase their cash flow through existing assets; their receivables and invoices. These business owners appear to be using this cash not just to survive, but to grow.
Even with the U.S. Department of Commerce reporting 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.
The new Universal Funding clients that began factoring in February have a combined total factoring limit of three-quarters of a million dollars, all of which is debt-free money that the companies can use to grow their businesses.
These new factoring lines include:
- A $200,000 account limit for a sign manufacturer in Washington.
- A $400,000 account limit for an Ornamental Railing company in New Jersey.
- A $75,000 account limit for a Machine Fabrications Shop in California
Factoring is not a new tool in the financial realm, big corporations have been using it to their advantage for generations. Until recently, small and medium sized businesses have been left out of this business practice secret. In the past 10-20 years, especially with the state of the U.S. economy, more businesses are getting in of the receivables financing trend and getting a much needed boost to their business.
Additionally, these clients have access to Universal’s credit screening services, tax assistance and accounts receivable insurance program.
Universal Funding recognizes that not all businesses are the same and require customized care. They take the time and energy to get to know each of their customers and then create a tailored program that fits the needs of that specific customer.
For additional information about factoring, contact Universal Funding at https://www.universalfunding.com or call (800) 769-0054.