Invoice factoring company, Universal Funding announced today that six companies were approved and funded for accounts receivable factoring services in the month of March. The March 2013 numbers strengthened the overall first quarter performance.
“It’s officially spring, and with springtime comes a natural seasonal growth cycle for most small & medium sized business,” says President Kyle Bergstedt. “Taking advantage of our factoring services will boost these businesses’ growth even further.”
The new Universal Funding clients that began factoring in March have a combined total factoring limit of $2.1 million dollars, all of which is debt-free money that the companies can use to grow their businesses.
These new factoring lines include:
- A $60,000 account limit for a Staffing agency in Wisconsin.
- A $100,000 account limit for a trucking & transport company in Ohio.
- A $150,000 account limit for a trucking & transport company in Arkansas.
- A $400,000 account limit for a metal fabrication company in Georgia.
- A $500,000 account limit for an engineering & consulting services provider in Pennsylvania.
- A $1M account limit for an apparel company based in New York.
When the economy is weak or in recovery traditional lenders decrease their loan amounts and increase their loan rates, making it hard for businesses to survive let alone flourish. Because of this big banking trend, factoring has become the financing tool of choice for many businesses.
Big corporations have been using accounts receivable factoring to their advantage for generations. As the economy climbs out of the recession, more and more small to medium sized businesses are getting in on this best practice secret and getting a much needed boost to their business.
Additionally, these new clients have access to Universal’s credit screening services, tax assistance and accounts receivable insurance program in additional to the usual accounts receivable management program.
About Universal Funding Corporation
Since 1998, Universal Funding Corporation has provided clients in the printing & publishing, manufacturing, oilfield & energy, trucking & transportation, and staffing & personnel industries with personalized accounts receivable factoring services. The factoring company is based in Spokane, Washington and employs 22 people.
For additional information about factoring, contact Universal Funding at www.UniversalFunding.com or call (800) 984-4265.