Three out of the four new clients who sought out factoring services provided by Universal Funding are based in the southern region of the United States.
“While it’s purely coincidental that there is strong regional focus on where our new accounts are based, it’s timely to mention that many businesses experience seasonal effects on cash flow.” says Kyle Bergstedt, President of Universal Funding. “The north is experiencing extremely cold weather conditions which create delays and closures to businesses. The south has mild temperatures which are conducive to high productivity in many industries. A company that is experiencing delays can feel the cash flow crunch as much as a company whose spend is high due to high output; both are good candidates for invoice factoring.”
The new clients include:
- A $300,000 /month factoring facility for a Phoenix based commercial plumbing and HVAC maintenance company
- A $100,000 /month factoring facility for an oilfield service provider operating out of west Texas
- An $80,000 /month facility for a furniture manufacturer in the gulf region of Texas, and
- A $30,000 /month factoring facility for a security firm based in Minnesota
These four companies along with 60 others commenced a working relationship with Universal Funding in 2014. “The companies that set-up factoring accounts in December start 2015 off with their best foot forward as they have addressed cash flow concerns and finance woes that would otherwise plague them for the entirety of the year,” expressed Bergstedt.