Saint Peterburg, FL (PRWEB) March 14, 2010
United Capital Funding Corp, the leading provider of professional Accounts Receivable based funding and credit management solutions in the United States, announced today that it had closed on a financing facility with Memphis-Tenn. based-First Tennessee Bank National Association, a subsidiary of First Horizon National Corp., (NYSE: FHN). The senior-secured facility is an early renewal of a credit facility first entered into between United Capital and First Tennessee in 2006.
"We are honored to continue our relationship with First Tennessee, ensuring that we will be able to continue to expand our portfolio and provide solutions that meet our clients' needs," said Ivan Baker, CFO and Managing Partner of United Capital Funding. "Over the years, we have enjoyed the outstanding professional services provided by First Tennessee, and we value the support we have received from everyone we work with there."
Chris Youmans, President and Managing Partner of United Capital added: "These are very challenging times to get funding facilities closed. We appreciate the professionalism of First Tennessee's due diligence team and their management team's approval to provide capital that allows us to keep our clients growing."
"First Tennessee is pleased to continue to have United Capital in our growing portfolio of relationships with specialized finance and factoring companies," said Gil Maneclang, relationship manager, First Tennessee Bank. "United Capital represents the type of high quality specialty finance company that we are committed to serving. We look forward to working with them as they continue to grow."
United recently reached a milestone in December 2009 when it announced that it has reached $1 Billion in client funding since its formation in 1997.
About United Capital Funding Corporation
United Capital Funding Corp. is the leading professional Accounts Receivable funding, and AR management services based firm in the United States today. Established in 1997, United has successfully partnered with entrepreneurial firms with annual revenue from startup stage to over $50 Million. With clients in over 34 states, United possesses the financial resources to serve firms seeking to improve their cash flow and reduce costs. United is headquartered in the Tampa Bay area, and also has a regional office in Nashville, Tennessee. Additional information on the specialized business financial services provided by United, including factoring, Accounts Receivable management, and working capital are available online at their top rated Google website; http://www.ucfunding.com ; via email at mark(at)ucfunding(dot)com; and by telephone (877) 894-8232.
First Horizon National Corporation Media Relations
United Capital Funding Corp.
Mark S. Mandula, Managing Partner