Need Help With Your Cash Flow?
From time to time, businesses fall short when it comes to their cash flow. This can cause problems with payroll, business expenses, or even with client acquisitions. Most businesses have accounts receivable, but it takes time to invoice clients and then collect any outstanding debt. Well, what happens when your money runs dry?
How Does Factoring Work For My Company?
No matter if it’s a good time or a bad time for the economy, businesses may still need liquid capital to enhance its cash flow cycle and when you’re waiting on capital from your clients, you need that cash more than ever. Consider factoring your company’s invoices to access that capital and don’t worry if you haven’t heard of factoring before. If you’re wondering “what is factoring?” or “how does factoring work?” United Capital Funding is here to help.
From Mark Mandula: Thoughts on the COVID-19 Pandemic Part IV
As the COVID-19 pandemic continues at full strength in much of the United States, it is becoming clearer that the economic damage done by the virus will be widespread and significant. The first inkling of this unsettling fact appeared last week when an unprecedented surge in jobless claims was announced. From the prior weeks, data of 282,000 claims came the stunning news that the current weeks total was about 3.3 million. At that point, equity and other markets in the United States nearly came unglued and the optmisitic chatter was that this would be the highest claim that would occur in the COVID-19 period. Most economists and experts had predicted that the number of claims would be nowhere as high as the 3.2+ million that wa actually reported.
Loan Programs for Small Businesses Impacted by COVID-19
Small businesses are the backbone of the American economy. There is no debate that the current COVID-19 pandemic will cause significant economic harm to this critical part of our nations GDP. How important is it for small businesses in the United States to be vibrant and successful? Consider these facts about the magnitude of the role small businesses contribute to the United States economy (data from the Office of Advocacy, Small Business Administration).
The History of Factoring From A Trusted Factoring Company
So, you know about how the factoring industry operates today—but where did it all begin? Learn about the history of factoring from the specialists a United Capital Funding. We’re the factoring company you can trust with your capital.
Record Number of New Funding Facilities Originated for 2008; Outlook for 2009 Promising
Saint Petersburg, FL (January 13, 2009); United Capital Funding Corp., the leading Internet based provider of professional Accounts Receivable Management services, factoring and specialized Accounts Receivable management services, announced today that they originated a record number of new client funding relationships for the year ended December 31, 2008.
“In spite of the current credit “crisis”, sub prime mortgage lending situation, housing devaluation and credit default/insurance concerns, we are very pleased to be able to report that our client relationships have grown to the highest levels in our firm’s 12 year history as of the end of 2008” commented Mark S. Mandula, Managing Partner and Principal of United Capital Funding. “We are also encouraged that our top ranked Google website, www.ucfunding.com has continued to exceed planned levels of inquiries, referrals and overall website traffic projections. Our website has consistently been the top ranked organic site on Google, MSN and Yahoo for 2008.”
“In short, this achievement would not be possible without the unwavering support of our clients, partners, including First Tennessee Bank and our seasoned professional team of employees. This support provides us the opportunity to capitalize on serving new clients nationally without interruption. Our ownership structure enables us to take a long term approach to serving our clients, with a singular focus on what is best for the long term interests of our clients. Being a private company gives us a significant advantage because we are not attempting to achieve short term objectives or trying to maximize earnings over one quarter, which could have meant a higher risk strategy” commented Mandula.
“At the same time, we recognize and acknowledge that the current economic recession has negatively impacted many small businesses. We are constantly implementing new ways to ensure that our professional funding services are as cost effective for our clients as possible. Our recent expansion of our online tools for clients is an excellent example of our dedication to developing solutions for our clients. In addition, the opening of our office in Phoenix will also allow us to better serve our current and future clients in this region.”
Over the course of 2008, United Capital Funding Corp. added new client relationships in 24 states including Nevada, Montana, Pennsylvania, Maryland, North Carolina, Tennessee, Florida, Mississippi, California, New Mexico, Minnesota, New York, Wyoming, Oklahoma, Illinois, Texas, Virginia, New Jersey, Georgia, Massachusetts, Kentucky, Arizona, Indiana and the District of Columbia. Together with unprecedented retention levels well in excess of industry peer data, the firm’s level of funding is the highest recorded since formation in April, 1997.
New Office Now Open in Phoenix, Arizona
As previously announced, United Capital Funding opened a new sales office in Phoenix, Arizona December 1, 2008. This was due to the strong demand in the Southwestern United States for working capital and Accounts Receivable management solutions, particularly in the staffing, transportation, distribution and manufacturing industries.
“As can been seen from the list of states where our new clients are located, we have seen significant growth in our client base in the Southwest, and with this expansion, we foresee even greater client expansion in 2009 in Arizona, California, Oregon, Washington, Idaho, Nevada, Montana, Wyoming, Colorado, Utah, New Mexico and Texas” said Mandula.
“Our clients are expanding and to ensure that we provide them excellent support, we are investing our human and capital resources in this important geographic area. Our Phoenix office will allow us to continue to deliver superior marketing and support to our clients and growing prospect base in the region.”
United Capital Funding Corp. Marketing Leadership
“United Capital Funding Corp. is intently focused on enhancing the value we provide our clients, now located in 34 states” commented Mandula. “We are adding resources and infrastructure and this allows us to successfully roll out a higher touch, marketing support structure, all of which fosters a culture focusing on client satisfaction and retention. Since our formation as a specialized factoring and Accounts Receivable funding and management firm in April, 1997, we have always focused our efforts on serving the needs of our clients.”
Additional information on the specialized financial services provided by United, including factoring, Accounts Receivable management, and working capital are available online at www.ucfunding.com; via email at email@example.com; and by telephone (877) 894-8232. United Capital Funding Corp. can also be reached at its main office, located at 146 2nd Street North, Suite 200, Saint Petersburg, Florida; or at their Nashville office, located at 4525 Harding Road, Nashville, Tennessee at (615) 483-5720, or in Phoenix at 2425 East Camelback Road, Suite 950, Phoenix, Arizona; telephone (602) 346-5025.
Article Posted On: January 13, 2009