We Are a Story Lender that Listens to Customers

As a story lender, the Universal Finance team has years of experience listening to our customers to learn about their businesses and the story behind their funding needs. Unlike a traditional bank, our decisions to provide financing are based on more than just how a business looks on paper – we develop a complete understanding of each customer’s operations, management, and what they have to offer.

When your business needs equipment financing fast, look no further than Universal Finance for all your asset-based lending needs. Our decision to finance a new customer is done internally and is determined by the “Three C’s – Credit, Collateral, and Character”. Because we are a direct lender, all final decisions are made in-house, which allows us to offer fast, flexible financing options.
As a relationship-based lender, we work together to make sure that you can afford the agreed-to monthly payments and that you understand the terms of the loan. Universal Finance will work with you closely to develop a solution based on the relationship that we build with you and with all of our customers. Our team works with every customer personally to develop a financing plan that is tailored to meet their business needs.

The foundation of our business is built on customer relationships, convenient financing, and fast turnaround. By working closely with our customers to understand their needs, we possess the unique ability to provide borrowers with the funds they need for a project, to purchase equipment, and obtain working capital.

To learn more, please use the form to the right or call us at 781-417-5428.

Apply for a Working Capital Loan

Today, many business owners in the construction industry struggle with depleting their cash reserves to cover the upfront costs of purchasing materials for the jobs they do. Many of their customers won’t pay them until the job is complete. A working capital loan would give them the cash they need to keep their bank accounts in check.

The construction equipment financing funds can be used for bulk purchases, payroll or even to get through a slow season. These unsecured loans are good for any type of instance where an owner has reason not to deplete their reserves knowing that the money will be coming in.

For these unsecured working capital loans, all we need to get started is an application and three recent months of bank statements. We can get a deal approved, loan documents signed and funded within one business day. It really can be that quick!

Universal Finance has your lending needs covered and we urge you to contact us today. The team at Universal Finance will work directly with you to provide the guidance you need to secure the financing that is right for your business.

Universal Finance Announces Partnership with DOTmed, Inc.

Universal Finance Corp. is pleased to announce it has partnered with DOTmed, Inc., the world’s leading public trading platform for buying and selling medical equipment, parts, and services. The deal with DOTmed underscores Universal’s commitment to provide affordable financing to clients and to increase the company’s exposure to the range of industries it serves, including medical equipment suppliers.

“Since we began offering financing to medical equipment buyers, it was a natural fit for us to strike up this partnership with DOTmed through our Partner Program,” said Bill Scott, Jr., Owner of Universal Finance. “So far, the technology has driven a lot of traffic our way – the deal has helped Universal by creating great exposure for us in the medical equipment vertical, and it will also help to drive leads and sales for DOTmed.”

Coincidentally, Universal’s venture into providing loans to clients that purchase medical equipment and parts occurred during the ongoing coronavirus pandemic. As a result, Universal received inquiries through DOTmed from prospective borrowers who are interested in acquiring equipment and supplies such as face masks, medical gloves, and protective shields which has opened up other financing avenues such as lines of credit.

According to Mr. Scott and Universal’s Director of Syndication Brett Rondeau, the deal with DOTmed has also provided their team an opportunity to explore similar partnerships in the future with vendors in other industries.

“Our team has the knowledge and experience to make sure our partners’ customers receive the best financing option available to help their business grow,” Mr. Rondeau said. “We have partnered with premier dealers and vendors across a range of industries and we’re constantly seeking new businesses to join us through our Partner Program to help them drive more revenue.”

The Benefits of Partnering with Universal Finance Include:

Offer Financing with a Reputable Company

Universal Finance is an established premier lender for over the last four decades. The company has expanded its reach to serve clients in a wide range of other industries including transportation, restaurants, and medical equipment suppliers. We provide borrowers with the financing they need to secure jobs, purchase equipment, and obtain working capital.

Reduce Unqualified Inquiries

Our decision to finance a new customer is done internally and is determined by the 3 C’s – Credit, Collateral & Character. As a Direct Lender, all final decisions are made “in-house”. This advantage allows us to offer fast, flexible financing options.

Increase Qualified Leads

Unlike a traditional lender, we look beyond how our clients “look on paper”. When we receive a working capital loan application, we work to develop a complete understanding about who the customer is and what they have to offer.

Ability to White Label Your Financing

Focus on your brand building and enhancing the overall customer experience with our expertise. We have branded ‘market-ready’ solutions that can be launched faster and cheaper.

Generate Reporting on Conversions

We report on all the conversion that come through our forms and supply reports for you to cross reference applications that have been submitted.

The Benefits for Your Customers Include:

Fast Turnaround

Your customers can be pre-approved within hours and we can complete a loan process within days.

Sell More Inventory

We have seamless financing options for all your customers’ credit types. Each customer is more than just a loan application to us, and we will find them a solution for purchasing inventory from our partners.

Direct Lender

Customers don’t have to wait for answers from a bank – close deals faster by working directly with the people lending the money.

Flexible Rates

A member of our team looks at each deal, and our flexible rates are based on the “Three C’s – Credit, Collateral, and Character.” We make decisions that are based not only by what is on paper, but who the customer is – whether they have great credit or poor credit.

Additional Capital

We offer finance options that allow customers to include soft costs into the financing. These added funds can be used to make repairs or obtain additional capital to get the equipment up and running.

To learn more about partnering with us, please submit the form on this page today!

Recent deal with DUA Optical

WE ARE PLEASED TO ANNOUNCE UNIVERSAL’S RECENT FRANCHISE DEAL WITH DUA OPTICAL

Universal Finance is pleased to announce a recent deal we closed that enabled two franchisees to launch an optical lab in Dallas, TX. The franchise owning company, Dua Optical Management, worked with Universal to obtain financing for Azeem Rehman and his wife Wajiha Jivani to build out their My Eyelab business, which is owned by Dua Optical.

According to an article on the My Eyelab website, after years of working in corporate management and consulting, Azeem and Wajiha are thrilled to have fulfilled their dream of business ownership. After financing was secured through Universal, the franchisees opened the new optical lab in September 2020.

As a dedicated single point of contact for individuals seeking loans to start a franchise business, Universal’s extensive experience in commercial lending gives us a unique edge when relating to small business customers who need a loan to buy a franchise. Universal is also the only lending company that appears on the All USA Franchises website, an online directory, and resource for hundreds of nationwide franchise businesses.

“We are very excited to add Dua Optical Management to our portfolio of partners whose franchisees have secured financing from Universal,” said Dan Robinson, owner. “It’s always very rewarding for our team when we are able to help a franchise owner get the capital they need to launch their own business and achieve their dreams in doing so.”

As an experienced lender, the Universal team understands the economy and we appreciate the financial ebbs and flows that impact franchise business. Unlike a traditional bank, our lending decisions are based on more than just how a business looks on paper. We develop a complete understanding of who the customer is and what they have to offer. This approach solidifies our relationship with the companies that have secured funding through us to start a franchise.

At Universal Finance, it’s our belief that a franchise shouldn’t suffer because of under-funding.

Should you obtain financing to purchase equipment or lease it?

Should you obtain financing to purchase equipment or lease it?

Universal Finance Corp. offers financing that keeps businesses on track to meet deadlines and avoid interruptions in the projects they are working on. We help clients in a wide range of industries that include franchises, vocational businesses, and dental equipment suppliers by providing a range of equipment financing options. Our creative financing programs and customizable payment plans provide borrowers with the funds they need to purchase equipment and obtain working capital.

When a customer comes to us to obtain financing, one question they often ask is whether it’s better to obtain financing to purchase the equipment they need or to lease it. Choosing between financing or leasing depends on each customer’s unique needs but the team at Universal can offer advice to business owners when it comes to making this decision.

According to the Equipment Leasing and Finance Association, business owners should first consider the purpose of the equipment they need and how long they expect to keep it. For short term equipment needs, leasing is often the less expensive and more sensible option. Universal suggests that our clients take the time to determine how long it will take for the equipment to pay for itself. If a business doesn’t recoup the purchasing price by the time it’s finished using the equipment, a lease is likely the best way to go. For equipment that is expected to be used for fewer than 36 months, we recommend leasing as the preferable option.

Otherwise, financing the purchase of the equipment is the better route to go as the accumulated cost of leasing may outweigh the price of obtaining financing to buy it outright. In addition, if the equipment is expected to be part of everyday operations for many years, it is usually worth owning. We also recommend obtaining financing to purchase equipment when replacing older equipment that’s been an integral part of an operation, or if new equipment is needed because current inventory isn’t sufficient to meet consumer demands.

There are many factors to consider when purchasing or leasing equipment. The team at Universal Finance will work directly with you to provide the guidance you need to choose the right options to get the equipment you need to keep your business moving forward.
Click here to learn more about equipment financing or call us at 781-219-0511 to speak with a representative today!

How to Make the Most of Section 179 Tax Deductions

How to Make the Most of Section 179 Tax Deductions

When managing the overall financial health of your business, it’s important to be well-informed about the latest tax deductions that are available to you. This is particularly true during a year that is as unpredictable as 2020, because when a business is seeking to maximize its bottom line, deductions for things such as equipment, machinery, and supplies can really add up.

The team at Universal Finance can help business owners improve their company’s tax position by using Section 179 to expense the full cost of certain assets during the year the assets went into service. Instead of depreciating costs over several years, an asset’s entire cost can be deducted in the year that it was available for use. These steps will reduce your company’s taxable income and create tax savings.


RULES FOR SECTION 179 DEDUCTIONS:

Eligible equipment must be new to your business – even used equipment that is new to your company qualifies
Section 179 applies to tangible personal property and qualified real property – check with your tax professional to determine if your purchases qualify.
The deduction limit is $1,040,000 for tax year 2020 and is reduced by the amount by which the cost exceeds $2,590,000.
All assets must be placed in service by December 31 of the tax year.

Once a business has reached its Section 179 limit, bonus depreciation kicks in and a 100-percent depreciation deduction can be done in the first year for property that includes machinery, equipment, and computers that were placed in service after Sept. 27, 2017, and before Jan. 1, 2023. Businesses may also be eligible for the Section 179 deduction, the bonus depreciation deduction or a combination of both.

We hope this information has been helpful as you navigate the best way to leverage all the deductions that available to your business within the parameters of Section 179. If you still have questions, contact Universal Finance and we will work with you to give you all the guidance you need to take advantage of the benefits that Section 179 affords your business.

The Pros of Buying Used Equipment

The Pros of Buying Used Equipment

As an experienced lender, Universal Finance offers a variety of equipment financing options that cover a wide range of industries including construction, transportation, restaurants, and medical equipment suppliers. Our customizable plans enable long-established businesses as well as start-up companies to make large purchases that can be paid for through manageable monthly payments. Our creative financing programs and customizable payment plans provide borrowers with the funds they need to purchase equipment and obtain working capital.

One question that we often get when a customer comes to us to obtain financing, is whether they should buy equipment that is new or used. There are general guidelines across most industries that outline best practices related to equipment purchasing but since each situation is unique, the answer can vary depending on what each business owner is trying to achieve.

One of the biggest pros of buying used equipment is the lower upfront cost. In most cases, this is the primary reason a business owner chooses used over new equipment. Additional upsides to buying used include retention of the equipment’s value and lower insurance costs. We always encourage our customers to check the operability of used equipment, and to fully inspect what they plan to buy to avoid maintenance and breakdown issues in the future.

There are many factors to consider when purchasing used equipment. The team at Universal Finance will work directly with you to provide the guidance you need to choose the right equipment for your business and to secure the financing you need to acquire it.

Click here to learn more about equipment financing or call us at 781-219-0511 to speak with a representative today!

The Pros and Cons of Buying New vs Used Equipment

The Pros and Cons of Buying New vs Used Equipment

To address the equipment needs of our clients in a wide range of industries that include construction, transportation, restaurants, and medical equipment suppliers, Universal Finance offers financing that keeps businesses on track to meet deadlines and avoid interruptions in the projects they are working on. Our creative financing programs and customizable payment plans provide borrowers with the funds they need to purchase equipment and obtain working capital.

When a customer comes to us to obtain financing, one question that often comes up is whether it is better to buy equipment that is new or used. Because every customer’s needs are unique, there is no right answer, but there are some general guidelines in most industries when it comes to buying equipment. Making the choice between new or used depends on the unique position of the business and what the short and long-term equipment inventory needs are.

One of the biggest pros of buying used equipment is the lower upfront cost. It’s usually the main reason a business chooses used. However, other pros include retention of value and lower insurance costs. One of the cons of buying used equipment could be the fact that the equipment might be in bad condition and will require ongoing maintenance. We always encourage our customers to really try out and inspect the equipment before buying so they don’t encounter this problem down the road.

Similarly, there are also upsides and downsides when it comes to buying new equipment. Among the pros of buying new include trouble-free operation, a warranty, up-to-date technology, and tax advantages. These advantages come with a big price tag, though, which is the biggest con for buying new equipment. Newer equipment also has a rapid depreciation of value compared to used equipment.

The bottom line is – there are many factors to consider when deciding whether to purchase new or used equipment. Each purchasing route has pros and cons, and these factors can be applied to the construction industry as well as the other industries that Universal Finance serves. The team at Universal Finance will work directly with you to provide the guidance you need to choose the right equipment for your business and to secure the financing you need to acquire it.

Click here to learn more about equipment financing or call us at 781-219-0511 to speak with a representative today!

Redesigned Website Launch

REFLECTING THE LATEST TRENDS IN INTERNET TECHNOLOGY, UNIVERSAL FINANCE LAUNCHES REDESIGNED WEBSITE

Universal Finance Corp. is pleased to announce the launch of its completely redesigned website, www.universalfinco.com. Universal Finance redesigned its website to reflect the latest trends in internet technology and to provide visitors with an easier way to learn about our financial services, improve the site’s aesthetics, add new resources, and increase the ease with which customers can communicate with us.

The website redesign also reflects important changes that Universal Finance has recently implemented to expand our financial services to a wide range of industries. Universal Finance established itself as a premier lender to the construction industry in the early 1980’s and, over the last four decades, the company has expanded its reach to serve customers in many other industries including transportation, restaurants, and medical equipment suppliers. We provide borrowers with the financing they need to secure jobs, purchase equipment, and obtain working capital.

KEY REDESIGN FEATURES

LAYOUT

The vertical scroll down layout on the home page is designed to promote visual clarity and provide an action-oriented interface. An “above the fold” design was used which keeps the most important pieces of content positioned in the section of the screen that is seen without having to scroll downward.

RESPONSIVENESS

The new site was designed to ensure that it looks great and functions properly on all devices, including laptops, tablets, and cell phones. The new design features streamlined menus, clear navigation, and a responsive layout for all electronic platforms.

CONTENT

The site’s content has been restructured to better highlight the financial services and consulting that Universal Finance offers across many industries. In addition to providing information about financing options for the construction industry, the website now reflects the financial services we offer to medical suppliers, transportation companies, restaurants, and franchises – just to name a few.

Why a Working Capital Loan?

As a business owner, you may be in a position where some capital would help keep your business moving and Universal Finance offers many solutions. One of our most popular solutions is to obtain a working capital loan by simply utilizing the equipment you already own. The size of the loan available to your business is calculated based on your assets – this includes the equipment you use every day. Our team will work closely with you to determine the value in your assets and together we’ll come up with a plan to turn them into capital.

A business’s operating liquidity determines its potential working capital loan. Fixed assets such as fully owned property, office space and equipment can be considered as a part of a company’s available capital. In some cases, if a company’s total assets are less than its current liabilities, the business has what is known as a working capital deficit or negative working capital. However, even if your business has a deficit, Universal Finance offers flexible financing options that may be available to you.

Leverage Your Company’s Working Capital to Drive Your Business Forward

For more than four decades, Universal Finance has helped clients obtain working capital loans in a wide range of industries that include construction, transportation, restaurants, and medical equipment suppliers. Unlike a traditional lender, we look beyond how our clients “look on paper”. When we receive a working capital loan application, we work to develop a complete understanding of who the customer is and what they have to offer, oftentimes regardless of their credit score.

Whether you need capital for materials or to help with your ongoing expenses, our team can work with you to establish financing that will turn your assets into cash. By leveraging the equipment that you own, a working capital loan can be done fast and give you the funding you need now.

Click here to learn more about our working capital loans or call us at 781-219-0511 to speak with a representative today!