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United Capital Funding Renews Funding Facility With First Tennessee Bank

February 25, 2013, 08:11 AM
Filed Under: Industry News

United Capital Funding, a provider of professional Accounts Receivable based funding and credit management solutions, finalized a renewal of its current financing facility with Memphis, TN-based First Tennessee Bank, a subsidiary of First Horizon National Corp. 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,” said Mark Mandula, CMO and managing partner of United Capital Funding. “Over the years, we have enjoyed the outstanding professional services provided by First Tennessee, and we value the support we have received from everyone we work with there.” Chris Youmans, president and managing partner of United Capital added: “We appreciate the professionalism of First Tennessee’s due diligence team and their management team’s approval to provide capital that allows 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 factoring companies,” said Steve Brimm, vice president for First Tennessee. “United Capital represents the type of high quality specialty finance company that we are committed to serving. We look forward to working with them as they continue to grow.”

United recently announced that it had provided and managed a record $435 million in client relationships for the year ended December 31, 2012. Providing solutions since 1997, United Capital Funding has successfully provided funding in excess of $1.9 billion to entrepreneurial firms with annual revenue from startup stage to over $50 Million. 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 office in Nashville and Cleveland.


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