Florida-based United Capital Funding Group completed 12 transactions totaling $21.25 million in accounts receivable financing in Q4/23, including:
- A $6 million credit facility for a Virginia-based research company
- A $5 million credit facility for a Florida-based interior services firm
- A $4 million credit facility for a California-based professional government services contractor
- A $2.5 million credit facility for an Alabama-based engineering government contractor
- A $1 million credit facility awarded for a Texas-based machinery manufacturing company
- A $750,000 credit facility for a New York-based marketing firm
- A $550,000 credit facility for a Florida-based telecommunications company
- A $400,000 credit facility for an Alabama-based janitorial company
- A $300,000 credit facility for an Ohio-based staffing company
- A $300,000 credit facility for a Pennsylvania-based lighting manufacturing company
- A $250,000 credit facility for a North Carolina-based plastic material wholesale company
- A $100,000 credit facility for a Kentucky-based staffing company
“This is a challenging time for small to mid-size businesses for a variety of reasons, including volatile macroeconomic conditions, increasing cost of capital, as well as a more conservative commercial credit environment,” Ivan Baker, CEO of United Capital Funding Group, said. “Financial stress and bankruptcies are also on the rise. When encountering these types of variables, growing businesses need a flexible working capital solution to accommodate their growth. United aims to provide clients with a nimble funding solution while offering an additional basket of services that enhances our value proposition.”