Factoring receivables company, Universal Funding, announced today that the factoring company has steadily increased client accounts to the point of justifying the hiring of six new team members.
Three positions filled were open due to regular attrition while three new positions were created due to growth. This addition of employees comes at a time of year when there is an influx of new clients. “We want to make sure our clients receive the highest level of customer service. We can ensure quality customer attention by making sure we have the staff on hand and trained to take care of their needs,” says Henry Wozow, CEO.
In January, Heather Burford came on board as the Marketing Manager. Universal’s Account Representatives team gained two new team members to service their growing client base. Angela Cavanaugh and Tina Wood work closely with their clients who use their factoring services on a daily basis.
Michelle Massie was hired as an Administrative Assistant, who is the first point of contact for anyone contacting Universal Funding. She took over the role from Alyssa Akins who has moved into the expanding Underwriting Department.
Jeanene Kelly is stepping in to the Controller role and has an extensive background in accounting and small business administration and a new Database Administrator, Stephanie Ferguson, joined the team most recently in June.
Most of these new hires, took place during the 2nd quarter, right as Universal heads into their busy season of acquiring and servicing new clients. The new hires will provide clients with a responsive team that will quickly provide them with the answers and services they need to keep their business running smoothly.
Universal’s hiring rate of 12.5% is trending above the financial industry hiring average (3%) for the year based on statistics provided by Indeed.com.
Universal Funding advances capital to businesses based on a company’s accounts receivables. 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. And all too often the loans were turned down or came with exorbitant fees.
The factoring invoices and factoring receivables 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 financing alternative.