Universal Funding Corporation releases early numbers for new clients served in the first quarter of 2016.
- $12 million factoring facility for a distributor in New Jersey
- $2.4 million factoring facility for a car service in Arizona
- $1.2 million factoring facility for a staffing company in Florida
- $900,000 factoring facility for an oilfield service provider in Colorado
- $600,000 factoring facility for a distributor in Alaska
- $900,000 factoring facility for an apparel company in Florida
- $2.4 million factoring facility for a manufacturing company in Wisconsin
“These new clients knew that growth was a part of their business plan for 2016,” shares Kyle Bergstedt, President of Universal Funding. “Most businesses have an unspoken or underlying goal for growth, but these businesses have a plan that involves making sure their cash flow can support bigger deals, more clients, and increased spending.”
Universal Funding Corporation specializes in a type of business financing that allows their clients to sell invoices and receive revenues as soon as the good or services are delivered. Instead of waiting out payment terms of 10, 30, or 60 days, they have cash flow to put right back into their business and the factoring company (Universal) waits out payments. This is an ideal form of business finance for businesses who are looking for a short term financing solution to support rapid growth.