Spokane, WA (May 16, 2016) – Companies get financially fit by using the services of an invoice factoring company.
Universal Funding Corporation provided working capital funding for five new clients in April. Over the course of the next year, these new clients will use invoice factoring to garner close to $10,000,000 in funding. This is one way growing businesses are taking steps towards becoming financially fit in 2016.
Curiously three of those new clients are headquartered in the Carolinas region. A manufacturing company based in South Carolina saw tremendous year over year growth because one client, a well-known multinational commercial construction equipment company, increased their orders. With the majority of their A/R concentrated with this one customer who has 60 day payment terms, they needed cash flow to keep up with the growing demand for their products. Universal Funding’s invoice factoring program is their solution to get them through this rapid growth phase.
A medical staffing company based in Raleigh, North Carolina was nearing a payroll deadline and were low on cash flow. They turned to Universal Funding for fast financing and were able to meet their payroll obligations without interrupting their services or their employees’ payday.
A third new client in South Carolina is a materials supplier who was plagued with late paying customers and had poor payment management. To combat these cash-flow killers, they have solved their problem within the first month by turning over their A/R management to Universal Funding. They still directly invoice their customers, but bi-monthly statements are sent out by Universal and payment terms are closely monitored by the Universal team. This frees up the supplier to focus on their business and maintain their relationships with customers.
Three companies in the Carolinas were experiencing very different scenarios that affected their cash flow. They were all able to get financially fit in less than 60 days by deploying the invoice factoring services of Universal Funding Corporation.