Universal Funding provides fast cash to businesses in exchange for their unpaid invoices. The invoices are for products and services that have already been delivered. But how do you get financing before a product is delivered? What if the products still need to be manufactured? How do you get the financing to create inventory to fulfill a purchase order?
This scenario is exactly where one of our prospects found themselves.
The prospect called Universal looking for capital to finance purchase orders for a unique office supply product. He was very forthcoming about a personal bankruptcy he had gone through in the past year while developing the product. He had some purchase orders from reliable retailers, if he could just find funding to fulfill the orders. As a start-up with no accounts receivable, his business needs did not fit our funding criteria.
Our Referral Manager found a funding source that was willing to
a) Overlook both the bankruptcy and the start-up nature of the client company and
b) Fund over $500,000 worth of purchase orders for product being produced in Mexico.
The start-up company is now on their second round of PO financing. The funding company could ultimately provide over $2,000,000 of annual PO financing to this startup company. Now that the purchase order is filled and delivered, Universal Funding Corporation has the opportunity to facilitate invoice factoring to this booming business that had a big opportunity but no financing just a few weeks ago.
Our goal is to help companies find financing, even if we’re not the funding source. If you have a commercial capital issue that we can’t solve, we’ll recommend you to someone that can!
If you’re ready to inquire about purchase order financing or invoice factoring, give us a call at (800) 405-6035.