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Universal Funding Online Loan Reviews

Company Name: Universal Funding
Email: [email protected]
Phone: 800-405-6035
Overall average rating of 3.7 out of 5, and the percentage of positive recommendations 67 %
Universal Funding helped me triple our revenue and were always available when I needed help. The few times we had minor issues with our billing process were quickly resolved with their help. Highly recommend!
Our company has been on an accelerated growth mission for the past four (4) years. Universal Funding has worked with us as a true partner, understanding our business model, providing assistance in every phase of our operation and we remain debt free. In any business the most important asset is the people!! I can say after 4 years that Universal Funding has the best and most knowledgeable staff we've ever worked with. They are understanding, knowledgeable and very accommodating to our every need. Universal is an extension of our business.
“We began with Universal Funding during a period of surging growth. This was compounded by the fact that our customers, some of who are the largest aerospace companies in the world, were imposing 60-90 day payment terms on us. The ability to factor our receivables same day was instrumental in allowing us to manage cash flow effectively, in a manner of our choosing. Universal Funding clearly gave us an advantage. In a technology driven industry, UFC allowed us to stay on the cutting edge; ahead of our competitors and beyond our customers’ expectations. The AeroDynamics team dealt with the UFC team daily. They could not have been more expert, experienced, courteous, honest or professional……always, and without exception. Today I would recommend Universal Funding to any company looking for a funding service that is proven and THEY CAN TRUST”
Wow, where to start. The term sheet Universal Funding sent stated we would pay a 1.52% factoring fee. Universal Funding failed to mention (and used dubious verbiage in the contract) that they would also charge an additional 1.52% "processing fee." The factoring fee has also never been below 1.77%. This alone doubles your actual cost to factor. Then Universal Funding will not release your reserve funds (the remaining funds from an invoice that they factored, which for us was 20%) unless you factor more invoices. They actually withheld about $50k of ours (most of which was non factored funds) because they wanted us to set up more customers to factor. Then I just found a $1300 "non factor fee" and a $3k "MVR" fee, which is apparently for not factoring enough with them. We did not get setup with them because we were desperate for funds, we did because their proposition made business sense, and they touted themselves as a "family business." Now they are trying to withhold $25,000 of my own non factored money from me.
Our company factors 95% of its income with universal in the last two weeks they just stopped funding after countless phone calls and emails we still have no resolution and the company has given no reason for the decision. The keep telling someone is reviewing my file but can give no answers as to the progress. My company has been hurt dramatically and universal wont provide any answers.
Universal Funding has been great to work with. They are flexible and understanding of our unique business needs and collection concerns. The performed as promised. They are nice folks too.
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