UFC Aug Factoring Facilities Totaling $2 Million

Universal Funding Corporation welcomed six new clients that commenced invoice factoring programs in August of 2014.  The factoring lines totaled $2 million dollars.

“Half of our new clients this month are based in the Midwest. This is not surprising since it was recently announced that the Midwest Economy Index has been up month over month,” shares Universal Funding’s President, Kyle Bergstedt. “The Midwest relies on manufacturing more than any other region. With the strengthening manufacturing sector, the Midwest is outpacing the nation in terms of growth.”

The new accounts that commenced factoring facilities in August include:

  • A $700,000 factoring line for an electronic recycling operation in Wisconsin
  • A $400,000 factoring line for an IT staffing and consulting agency in Ohio
  • A $200,000 factoring line for a rock hauling operation in Ohio
  • A $300,000 factoring line for an aircraft maintenance company in Kentucky
  • A $100,000 factoring line for a producer of power back-up systems based in Massachusetts, and
  • A $300,000 factoring line for a screen printing press in California

“Month after month we continue to acquire more IT staffing and consulting firms as clients; August was no different. It was interesting to see an alignment where a new client comes from a hot region like the Midwest and is also in an industry with increasing demand, “reflects Bergstedt. “We anticipate more inquiries for our services in that region for businesses providing those services.”

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