Tax Season Creates Higher Demand for Factoring Services

"Henry Wozow, CEO of Universal Funding says, “We usually see an increase in inquiries at the end of Q1 due to companies needing invoice factoring to meet their tax obligations. This year the trend seems to be escalating.”"

Every spring businesses face tax time and they must prepare their information for taxes. Many business owners put off the timely task because they think they will owe. In some instances they put it off by filing extensions until the money is available.

Factoring helps business owners so they do not have to file an extension or gain interest on an outstanding balance. Factoring can free up funds so that an unpaid tax balance can be paid off to prevent liens from affecting future cash flow. Universal Funding, one of the country's leading invoice factoring companies, reports that the 2014 tax season is creating a much bigger demand for factoring than any previous year.

Henry Wozow, CEO of Universal Funding says, “We usually see an increase in inquires at the end of Q1 due to companies needing invoice factoring to free up funds to meet their tax obligations. This year this trend seems to be escalating. I believe it's an indication that business owners are more aware of invoice factoring and not necessarily an indicator of changes in the economy.”

Twenty years ago most business owners didn't know about invoice factoring as a financing option. Today, most business owners recognize the value of invoice factoring for meeting payroll, making their bills, and now meeting their tax obligations. Tax time can be a stressful time of year for most businesses, but being able to pay off taxes in one quick transaction rather than delaying the inevitable is one benefit of factoring with Universal Funding.

About Universal Funding:

Universal Funding Corporation is a direct funding source providing companies with working capital to stabilize cash flow and foster growth. Since 1998, Universal Funding has been factoring receivables and developing personalized solutions by looking at an individual business, the climate of their industry, and the strength of their customers. Universal Funding is committed to its clients and are able to offer scalable programs that grow as their customer's business grows. Universal Funding assembled a dynamic team of specialists who strive to provide excellent service so that their customers know that Universal values the quality of its business relationship far more than the quantity of business that they do together. Universal Funding, an invoice factoring company based in Spokane, Washington, provides factoring services for companies throughout the United States.

Media Contact
Company Name: Universal Funding Corporation
Contact Person: Heather Burford, Marketing Manager
Email: Send Email
Phone: 800-405-6035
Address:16201 East Indiana Avenue, Suite 2600
City: Spokane
State: WA
Country: United States


Release ID: 38690