Receivables financing creates obvious benefits like increased profits and reduced expenses. Those are results any business would expect by having fast access to funding. But there’s another important benefit that you will receive when you start a receivables financing program with Universal Funding.
We will conduct a free credit screening of your customers. Perhaps the most important component of a factoring transaction is the credit quality of your debtors. This is critical because any factoring company will assess risk and rates for the factoring transactions based on your customers’ credit. Because of this, your customers should have strong commercial credit scores.
Most businesses never bother to check their customer’s credit because the need to bring on new clients and orders outweighs timely and costly due diligence. When you work with Universal Funding, we provide a valuable credit screening.
If the credit screening on a potential new customer comes back as high-risk, you have the opportunity to not accept the new business, or modify the terms, and minimize the risk of losing money on them. On the other hand, a commercial credit check could show a long history of paying on time and in full, which would obviously be welcomed news.
What’s even better is these credit checks are an included part of your receivables financing agreement when you factor with Universal Funding. Our team has years of experience in reading and interpreting these credit reports and do so on a daily basis.
Our ultimate goal is to see your business grow. That’s why we:
• Offer the lowest factoring rates in the industry
• Help resolve tax issues
• Provide credit reports on your potential customers
To get access to fast funding and take advantage of our credit screening service give us a call at 1-800-405-6035.