United Capital Funding Provides $10MM Facilities in Q3/22

United Capital Funding Group, a Florida-based factoring firm completed 12 transactions totaling $10 million in accounts receivable financing in Q3 of 2022. The firm is a wholly owned subsidiary of Gulf Coast Bank & Trust Company, an FDIC-insured bank based in New Orleans.

“As we continue to expand our presence in these industries, our goal continues to focus on the long-term financial success of these businesses,” Nicholas Pittas, national sales manager of United Capital Funding, said.

Factoring deals include:

• $3,000,000 credit facility awarded to a Tennessee-based packaging manufacturing company.

• $1,500,000 credit facility awarded to a New Hampshire-based hazardous waste treatment and disposal company.

• $1,000,000 credit facility award to an Arkansas-based medical staffing firm.

• $500,000 credit facility awarded to an Ohio-based detergent manufacturing company.

• $500,000 credit facility awarded to a New York-based communication line construction company.

• $300,000 credit facility awarded to a New Jersey-based telecommunications services company.

• $250,000 credit facility award to a Georgia-based temporary staffing company.

• $150,000 credit facility awarded to a California-based temporary staffing company.

• $150,000 credit facility awarded to a Maryland-based temporary staffing company.

• $100,000 credit facility awarded to a New Jersey-based security services company.

• $50,000 credit facility awarded to a New Hampshire-based computer system services company.

Also included in these transactions is a $2,500,000 credit facility awarded to a California-based sports equipment retailer. This transaction was negotiated as a debtor-in-possession (DIP) deal that allowed the business to stay in operation as it works out of Chapter 11 bankruptcy.