FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


US Financial Opens Small Invoice Factoring Division

November 24, 2014, 07:06 AM
Filed Under: New Venture

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, these were approvals with bigger down payments.   Because of these new limitations, customers were experiencing financial pain trying to come up with these down payments to obtain a loan or a lease. As it turned out, this became a new opportunity to help customers obtain immediate cash.  For US Financial, it was offering invoice factoring to its clients.

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 some way to access cash.  As banks were giving out fewer lines of credits, clients needed a way to better manage their cash flow.   It was easy to use their accounts receivables as a way to secure cash.

US Financial decided to try marketing invoice factoring to all of its 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.

After months of speaking to various other factoring companies and small businesses, the firm has come up with a program just 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.

U.S. Financial Companies based out of Columbus, Ohio is dedicated to providing top notch invoice factoring solutions for companies in the United States and even some international clients.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.