Universal Funding Corporation announced today their Q2 2013 findings. The second quarter’s numbers show growth in the overall number of clients compared to the same period in 2012. In Q2 2013 they welcomed 18 new clients as opposed to 15 new clients gained in Q2 of 2012. While the number of new clients increased year to year, the overall line limits are lower by almost half.
“2013 has been an interesting year for our industry. We have seen an influx of new clients needing smaller lines of factoring which proves that account receivables financing is being used more and more by the small businesses that are the backbone to the American economy.” says Kyle Bergstedt, Universal Funding President.
Some of the larger new client accounts include:
- A $1,000,000 factoring line for a Railway Inspection Company based out of Texas
- A $1,200,000 factoring line for an IT Consulting Service Provider based out of the Atlanta- Metro Area
- And an $800,000 factoring line for a Communications Data Business Provider based out of California
- Some of the small business new client accounts include:
- A $40,000 factoring line for a pull tab distributor based in New York
- A $40,000 factoring line for a Business Service Provider based out of Texas
- And a $70,000 factoring line for a wholesale distributor based out of the Atlanta- Metro Area
As indicated on this list, Universal Funding’s clients represent a wide range of industries including transportation, business service providers, and wholesaler/distributors. Regardless of the size of the company or the volume of invoices being factored, Universal Funding strives to treat every client with the greatest care.
Universal Funding provides financial assistance to businesses of all sizes. The value that company’s accounts receivables is what determines the percentage that can be advanced in each transaction. In the past, companies needing cash for expansion were forced to approach banks or private lenders for loans. These lenders in turn looked to the company’s hard assets for collateral. All too often the loans were turned down or came with exorbitant fees.
The receivables financing services provided by Universal Funding are a very attractive alternative to traditional bank loans. In this case, the client company’s accounts receivables can be advanced up to 90%. With low fees and fast turnaround, often in a matter of days, more and more businesses are turning to this attractive alternative.
Every factoring receivables agreement with Universal Funding is highly tailored to the specific needs of the business and industry seeking financing. With Universal Funding’s executive family having over 65 years of combined experience in factoring receivables, businesses can be confident that they are in good hands.