Universal Funding Corporation, a factoring receivables company, announced a new factoring program, allowing clients to receive cash equaling up to 95% of their invoices.
This will allow Universal Funding to increase their portfolio and allow prospects to take advantage of Universal Funding’s invoice factoring program with stellar terms.
Most factoring companies normally advance only 80% of their customer’s accounts receivable invoices. “This additional 15% is a huge deal,” says Monica Wozow, Principal and Corporate Secretary, at Universal Funding. “We service all kinds of customers; from large corporations to small businesses; from east coast to west coast; and from high tech to low tech. The commonality between these diverse companies is their need for a custom factoring solution.”
Factoring receivables has been around for a long time, but only in recent years has it seen such widespread usage in mainstream businesses. Industries that used to be insulated by most recessions are now feeling the squeeze and they’re looking for readily available cash and are turning to invoice factoring companies for a cash flow solution.
Factoring invoices helps a company to get a hold of cash fast, often in a matter of days and sometimes in a matter of hours. This cash allows businesses to meet their cash flow needs of meeting payroll, paying taxes, putting money away for a rainy day, taking advantage of opportunities, or preparing for growth.
In a year replete with economic uncertainties, the factoring receivables niche and Universal Funding has continued to grow because of their flexibility and passion for serving their customers. They want to pass on their good fortune to their clients by offering this extra 15%.