Universal Funding announces the engagement of recourse factoring facilities providing over $20 million dollars to three new clients over the course on the next year.
Once again, southern states is the predominate region where Universal Funding’s new clients are based. One client based in the Houston metro area is a major distributor for used automotive cores and mechanic parts. A Gulf coast Florida commercial facilities maintenance operation will receive approximately $500,000 per month in accounts receivable financing. The largest factoring facility was procured for a service provider in the energy sector, based out of Arkansas. This client plans, designs, constructs and maintains power lines and distribution and will factor invoices to the tune of $1 million dollars per month with Universal.
Invoice Financing Leader Provides Multi-Million Dollar Facilities Commencing in May 2015
Wells Fargo Securities, LLC recently reported in their Southern States 2015 Economic Outlook that “the four major trends driving the South’s economic resurgence include the energy boom, the technology revolution, increasing urbanization and the reemergence of the region’s historically important manufacturing sector. In light of the recent slide in oil prices, the energy boom is still very much front and center in the South’s economic outlook.” This information coincides with numerous new southern based clients that Universal Funding has attained in 2015 that are in those industries.
“We’ve seen a spike in requests for our services from many southern states,” says Henry Wozow, Universal Funding Corporation CEO. “Customers that engage in our invoice factoring services have an easier time growing and meeting increased demand.”