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Universal Funding Corporation

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Universal Funding Corporation Review

    Erica Seppala
  • 2 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.

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Erica Seppala

Erica Seppala

Expert Analyst & Reviewer at Merchant Maverick
An expert in accounting, finance, and point of sale, Erica has been researching and writing about all things small-business since 2018. Erica's insights into personal and business finance have been cited in numerous publications, including MSN, Real Simple, and Reader's Digest. She is a graduate of Limestone College.
Erica Seppala
View Erica Seppala's professional experience on LinkedIn.



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2 Comments

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    Neil Buchan

    Organization Name: 1 to 1 Tutoring

    STAY AWAY! This company is not in the business of helping your business succeed. They are rather in the business of bleeding you for every dime. They will waive all sorts of fees and give you great rates to get you signed up. But the contracts have hidden poison pills that will kill you. They have two full-time attorneys on staff that have the job of collecting every last dime owed. I paid $15,000 on top of regular fees to make it all go away.

    1
    • Organization Name: 1 to 1 Tutoring

    This comment refers to an earlier version of this review and may be outdated.

    Scott Haslam

    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.

    1

      This comment refers to an earlier version of this review and may be outdated.

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