Seattle, WA -- (SBWIRE) -- 09/16/2013 -- Universal Funding Corporation announced they are providing $2.9 million worth of factoring lines four new clients who came on in the month of August.
This is released just days after both Reuters Thompson and the Federal Reserve’s released similar reports indicating a modest increase in economic activity. Reuters reports that U.S. small business lending has reached its highest level since August 2007, while the Fed’s Beige Book reports that manufacturing activity expanded at a moderate rate over the past year.
“Our factoring services are perfect for the small business needing fast capital funding.” says Henry Wozow, CEO. “Likewise, our team has helped many manufacturing clients, big and small, and we expect to see that number increase with the projected growth for that sector.”
The new client accounts in August include:
- A $2,500,000 factoring facility for a telecommunications company based out of the Midwest,
- A $200,000 factoring facility for a creative arts company based in California,
- A $100,000 factoring facility for an food manufacturer located in Texas, and
- A $100,000 factoring facility for transportation company based in Utah
As indicated on this list, Universal Funding’s clients offer a wide range of services including transportation, business service providers, and manufacturing.
Universal Funding is a full service factoring company that provides accounts receivable financing for businesses of all sizes. The facilities are based on a percentage of the value that company’s accounts receivables. With the economic recovery underway with promising reports of modest growth, more and more businesses turn to factoring companies to secure commercial capital without acquiring debt.
The invoice factoring services provided by Universal Funding are an 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 alternative.
Every factoring receivables agreement with Universal Funding is highly tailored to the specific needs of each business and industry. With Universal Funding’s executive family having over 65 years of combined experience in factoring receivables, businesses can be confident that they are in good hands.
About Universal Funding
Universal Funding Corporation is a factoring company that provides receivables financing programs for businesses all throughout the United States. They are longtime members of both the International Factoring Association and the Commercial Finance Association. Founded in 1998, they currently provide factoring services for 95 clients. For information about Universal Funding Corporation, please visit www.universalfunding.com.
Universal Funding Corporation
Heather Burford, Marketing
16201 East Indiana Avenue, Suite 2600
Spokane, WA 99216