Universal Funding, a factoring company specializing in domestic transactions, provided $1.3MM in accounts receivable financing to four new clients in July. As these new relationships grow over the course of a year, Universal will provide over $16MM in financing to these companies. One client based in South Carolina is a technology engineering firm and another is an SLC-based large scale screen-printer. The other new clients are in the wholesale distribution industry.
Invoice Factoring Company Provides Multi-Million Dollar Facilities Commencing in July 2015
According to a 2015 Outlook for Wholesale Distribution published by Modern Distribution Management and Netsuite, the current climate of the industry is projecting opportunities for companies that are willing to invest in technology and other tools that may improve efficiency and grow sales in better ways. The two distribution businesses that starting factoring with Universal Funding are willing to invest in new tools, new business, and new recruits. The cash flow created will provide them with an edge in a tough market that faces encroachment from online competitors.
“These companies are wise to engage with our services this time of year,” says Kyle Bergstedt, Universal Funding Corporation President. “They’ll be able to expand, hire, and increase production just in time for their busiest time of the year which will be the months right before the holidays.” Over the course of one year, Universal Funding will provide financing to the tune of $10MM to the distribution companies that are based in California and Michigan. “This is the time of year for businesses in the supply chain to get financing in place before they are pinched during their busiest season,” advises Bergstedt