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Estimated reading time: 1 minute
Background
General description:
Automotive reconditioning
Company structure:
Partnership
State of formation:
Tennessee
Year of formation:
2020
Customer type:
Auto dealerships
Issue
Pandemic-driven car sales increased the demand for this company’s services, leading to hyper growth.
Proposed Solutions
United Capital Funding proposed its factoring services to alleviate the road rash associated with hyper growth. Factoring would provide the following benefits:
- Advance on the invoice amount (typically 80% of the invoice value)
- Comprehensive accounts receivable management and maintenance of payment recovery and outstanding invoices.
- Credit investigation of future customers
- Online reporting available through CADENCE
Conclusion
The company accepted the proposal and was approved for factoring with United Capital Funding. Using the liquid capital that United Capital Funding provided from its invoices, the company is able to meet growing demand for its automotive reconditioning services.
Connect with United Capital Funding