March 3, 2014 – A California-based injection molding company had been utilizing invoice financing for about one year when they realized that they still required additional cash flow at the time they received a purchase order. The owner at the molding company maintained a good relationship with the Business Development Rep at Universal Funding Corporation and thought to reach out to his Rep for advice. When the Rep determined that the molding company would benefit from using PO financing in conjunction with their already established invoice financing program, the light bulb lit up.
Within a months’ time an extraordinary transformation was under way for this California- based business. No longer worrying about how to fulfill their PO’s, they were able to pay off suppliers and purchase more raw materials to produce and fulfill larger orders. Almost overnight they were able to bring their A/P current and built up their A/R with new larger accounts. “We are so grateful that our client turned to us to find a more flexible financing option that combined purchase order and accounts receivable financing,” states Universal Funding Corporation’s founder and CEO, Henry Wozow. “Our programs are uniquely designed to help businesses grow and they’re flexible to change as a company’s needs change over time. In this situation, it’s a win-win for everyone involved.” Universal Funding can provide purchase order funding for companies, up to one million dollars per month, per client, in conjunction with an invoice factoring agreement.
February Deal Update
Universal Funding Corporation funded 3 new factoring lines in February, including:
- $100,000 factoring facility for a New England-based recycling center
- $100,000 factoring facility for a West Coast-based aerospace supplier
- $150,000 factoring facility for a Southwest-based apparel company