TSL Express Daily News
The Secured Lender
SFNet's 40 Under 40 Awards Issue
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SFNet's 40 Under 40 Award Winners Panel Recap
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Potential Impacts of Blockchain on Commercial Lending
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July 15, 2024
Source: United Capital Funding Group LLC
ST. PETERSBURG, Fla (July 15, 2024) - United Capital Funding Group LLC, a Florida-based factoring firm completed 7 transactions totaling $11.7 million in accounts receivable financing.
Factoring deals include:
• $8,500,000 credit facility awarded to a federal government contractor providing education and training support.
• $1,000,000 credit facility awarded to a Texas-based detergent manufacturing company.
• $750,000 credit facility awarded to a Georgia-based temporary staffing firm.
• $500,000 credit facility awarded to a New York-based security guard staffing firm.
• $500,000 credit facility awarded to a Texas-based computer programming services company.
• $250,000 credit facility awarded to a New York-based advertising agency.
• $200,000 credit facility awarded to an Ohio-based chemical product wholesaler.
“Over the next 18 months, we’ll continue to see an increasing trend of transactions moving out of traditional banks as they hesitate to renew or increase working capital credit lines,” said Ivan Baker, CEO of United Capital Funding. “The combination of multiple macroeconomic variables, increased FDIC oversight, and reduced risk tolerance will provide substantial growth opportunities for lenders in the alternative finance sector.”
For more information about United Capital Funding and its invoice financing services, please visit www.ucfunding.com or call our office at (877) 894-8232.
About United Capital Funding Group, LLC.
United Capital Funding Group, LLC. (UCF), a subsidiary of Gulf Coast Bank & Trust Company, is one of the nation’s leading providers of working capital finance to small and lower middle market companies, by successfully leveraging collateral due from major retailers, government agencies, and Fortune 500 companies.
Since its founding in 1997, UCF has helped more than 1,000 businesses succeed by providing efficient accounts receivable management services and supporting its customers with a reliable source of funding for managed business and government receivables
UCF is headquartered in the Tampa Bay area and has additional offices in Nashville, Tenn., Chicago, Ill., Los Angeles, Calif., Charleston, S.C., and Columbus, Ohio. For more information, please visit our website at www.ucfunding.com.
Contact
Alina Hall, Marketing Communications Specialist
(877) 894-8232, alinahall@ucfunding.com
