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US Financial Opens Small Invoice Factoring Division

November 24, 2014, 06:00 AM
Filed Under: Factoring News
Related: Factoring

Since 1998, US Financial Companies, an OH-based company, has been a leader in financing all types of equipment for a broad spectrum of credits. However, in 2008, at the start of the Last Great Recession, the equipment finance industry took a drastic change. When the economy slowed and the ordering equipment stalling, banks placed new criteria on companies looking to get equipment financing - normally approvals required bigger down payments. This became a new opportunity to help customers obtain immediate cash for US Financial, in the form of invoice factoring.

Once the firm was able to offer a means for its customers to come up with the 10 or 20 percent down payment required to enter in to a new lease or loan by means of Invoice Factoring, US Financial was able to help a great many companies continue to get the financing and equipment they needed to grow and be successful. 

After a few short months it became apparent that not only did US Financial’s customers need financing, they also needed access to cash.  US Financial began marketing invoice factoring to all of our previous customers that it had helped over the last ten years. The response was immediate and overwhelming. It turned out that many of its customers did not have a bank line or, even if they did, it was not of a size that was in keeping with their needs. It was clear to us that US Financial needed to add invoice factoring as one of its featured services.

US Financial has developed a program for small business owners with $10,000 per month or less in invoices to factor.  The new program is up and running and the response has been positive.  Not only are new clients going to US Financial, but other factoring companies are referring the accounts that are too small for them to the firm.

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