Universal Funding Corporation provided over $2 million to fund factoring facilities for five new clients in September. The new client accounts helped close Q3as the most successful quarter for 2013. In the months of July, August, and September (Q3) Universal received 38% of their new accounts which account for 50% of the total value of invoices factored from accounts gained in 2013.
The new accounts brought on in September include:
- A $300,000 factoring facility for a Drilling & Boring Company in the Gulf Region
- A $300,000 factoring facility for a Fiberglass Tank Manufacturer in the Gulf Region
- A $215,000 factoring facility for a Staffing Company on the East Coast
- A $60,000 factoring facility for a Transport Company on the West Coast and
- A $1,200,000 factoring facility for a Distributor in California
These five new clients represent a few of the industries that Universal Funding specializes in designing custom accounts receivable financing programs for. Distributors, transportation companies, staffing companies, and manufacturers have been financing receivables with Universal since 1998. The third quarter is typically the busiest season for Universal, and this one performed right on trend.
“This past quarter, especially the month of September, proved very rewarding for our organization, and the services we provide to our clients enables them to be equally profitable,” shares Universal’s owner and CEO, Henry Wozow. “It shows the level of commitment we receive from each one of our employees who are essential in bringing the quality of service to our customers.” Business owners and decision makers tend to decide to work with Universal Funding because they provide a fast turnaround time from application to funding, offer high advance rates, low factoring fees, have industry specific expertise, and provide top rated customer service.
The factoring industry continues to grow each year as more factoring companies enter the asset based lending scene to take advantage of the growing need for businesses to secure funding away from traditional lenders. When companies seek financial services from Universal Funding, they can be assured that they are receiving a premier level of service, as their executive team has over 65 years of combined experience in invoice factoring.