Factoring company, Universal Funding announces that they facilitated new factoring lines spanning over the manufacturing, distribution, and transportation industries in the month of April.
“It’s an anomaly to get new clients in the three industries that make up a good portion of the supply chain,” says President Kyle Bergstedt. “It highlights the notion that factoring is an integral part of cash flow for companies that make products, ship products, and distribute products.”
The combined monthly factoring lines for the new accounts opened in April totals $1.4 million dollars. Universal Funding Corporation has provided a debt-free cash flow solution that the companies can use to grow their businesses.
These factoring lines include:
An $850,000 monthly factoring facility for a manufacturer in Minnesota
A $300,000 monthly factoring facility for a trucking company in Minnesota, and
A $200,000 monthly factoring facility for a distributor in Florida
“ It’s worthwhile pointing out that none these companies are vendors of one and other, they just happen to represent the various stages of the supply chain starting with manufacturer, and working through the transport and distribution process. However, we have a number of clients who came to us when one of their vendors started using our factoring services. They received the notification and statements, looked into the financing method, and chose to use our services as well,” tells Bergstedt.