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.
UCF closes funding facility with First Tennessee Bank
SAINT PETERSBURG, FLORIDA, March 10, 2010 – United Capital Funding Corp, the leading provider of professional Accounts Receivable based funding and credit management solutions in the United States announced today that it had closed on a financing facility with First Tennessee Bank, Memphis, Tennessee (NYSE: FHN). The senior-secured facility is an early renewal of a credit facility first entered into between United Capital and First Tennessee in 2006.
“We are honored to continue our relationship with First Tennessee, ensuring that we will be able to continue to expand our portfolio and provide solutions that meet our clients’ needs”, commented Ivan Baker, CFO and Managing Partner of United Capital Funding. “Over the years, we have enjoyed the outstanding professional services provide by First Tennessee, and we value the support we have received from everyone we work with at First Tennessee.” Chris Youmans, President and Managing Partner of United Capital also added, “These are very challenging times to get funding facilities closed and we appreciate the professionalism of First Tennessee’s Due Diligence team and the approval by their management team to provide capital that allow us to keep our clients growing.”
“First Tennessee is pleased to continue to have United Capital in our growing portfolio of relationships with specialized finance and leasing companies,” said Gil Maneclang, Relationship Manager, First Tennessee Bank. “United Capital represents the type of high quality specialty finance company that we are committed to serving, and we look forward to working with them as they continue to grow in the future.”
United recently reached a milestone in December 2009 when it announced that it has reached $1 Billion in client funding since its’ formation in 1997.
About First Horizon
The 5,700 employees of First Horizon National Corp. (NYSE:FHN - News) provide financial services through about 180 bank locations in and around Tennessee and 18 FTN Financial Group offices in the U.S. and abroad. First Tennessee has the leading combined market deposit share in the 17 Tennessee counties where it does business and one of the highest customer retention rates of any bank in the country. FTN Financial is an industry leader in fixed income sales, trading and strategies for institutional clients in the U.S. and abroad. FHN has been recognized as one of the nation's best employers by AARP and Working Mother magazines. More information can be found at www.fhnc.com.
About United Capital Funding Corporation
United Capital Funding Corp. [www.ucfunding.com] is the leading professional Accounts Receivable funding, and AR management services based firm in the United States today. Established in 1997, United has successfully partnered with entrepreneurial firms with annual revenue from startup stage to over $50 Million. With clients in over 34 states, United possesses the financial resources to serve firms seeking to improve their cash flow and reduce costs. United is headquartered in the Tampa Bay area, and also has regional offices in Nashville and Phoenix. Additional information on the specialized business financial services provided by United, including factoring, Accounts Receivable management, and working capital are available online at their top rated Google website; www.ucfunding.com; via email at email@example.com; and by telephone (877) 894-8232.
First Horizon National Corporation Media Relations Anthony Hicks 901-523-4726
United Capital Funding Corporation
Telephone: (877) 894-8232
Article Posted On: March 10, 2010