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We provide personalized capital funding programs including invoice factoring and purchase order financing to meet your cash flow needs.

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Universal Funding Corporation meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Universal Funding Corporation include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 4 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Industry Ratings Comparison | Chart

Customer Complaints Summary Read complaint details

4 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 2
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 2
Total Closed Complaints 4

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Universal Funding Corporation
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: October 11, 2001 Business started: 01/01/1999 in WA Business started locally: 01/01/1999 Business incorporated 11/22/1994 in WA
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Department of Revenue Washington State
Department of Revenue ( Public Records Division), PO Box 47478, Olympia WA 98504-7477
Phone Number: 800-647-7706

Washington Secretary of State, Corporations Divison
801 Capitol Way South, P.O. Box 40234, Olympia WA 98504-0234
Phone Number: 360-753-7115
Fax Number: 360-664-8781

Type of Entity


Business Management
Mr. Deron Nicholson, Vice President Mr. Henry Wozow, CEO Ms. Patricia Wozow, Treasurer Mr. Kyle Bergstedt, President Ms. Monica Wozow, Principal, Corporate Secretary
Contact Information
Principal: Mr. Deron Nicholson, Vice President
Principal: Mr. Henry Wozow, CEO
Customer Contact: Ms. Monica Wozow, Principal, Corporate Secretary
Principal: Ms. Patricia Wozow, Treasurer
Business Category

Factors Consumer Finance & Loan Companies

Alternate Business Names
Trucker's Capital 1st Commercial Capital Account Financing Accounts Receivable Factoring Cash Flow Factoring Factoring Company Factoring Directory Factoring Made Simple First Commercial Capital Invoice Factoring Receivable Factoring

Additional Locations

  • 16201 E Indiana Ave Ste 2600

    Spokane Valley, WA 99216 (509) 891-2400

  • PO Box 13115

    Spokane Valley, WA 99213


BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

12/19/2014 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: My contract with Universal Funding expired approximately 2.5 years ago. They are still cashing checks from my customers and not informing me. This happened a few times last year and I just found out it happened again. It was a small payment from a customer that they cashed and have kept since July without telling me. When I contacted them asking about this and any other funds they might have deposited from my customers without telling me, they said they will send me the money for this customer. I know from the past, that they will not tell me about any other money they have of mine until I find out about the exact money and then they will release it after keeping a percentage for themselves. My contract ended over 2 years ago and they are STILL depositing money from my customers and never telling anyone until they are found out

Desired Settlement: I want: 1) To be advised of any and all funds they have which are mine. 2) Them to STOP depositing money from my customers. They can return it to the customer, forward it to me, or even destroy the check. 3) If they do take money meant for me, please forward it to me in it's entirety

Business Response: This former client still continues to file BBB complaints against Universal Funding by making false claims. This is not the first time *** **** has done so, and likewise, her complaints continue to be false and slanderous. On February 13, 2012, this account was closed out. *** **** agreed in writing that if any future checks are received and cashed by Universal Funding that Universal Funding would charge a $30 processing fee. The vast majority of checks that Universal Funding received after this account was closed out were either returned to the debtor or forwarded to the client – without any charged fee. In fact, Universal Funding has not deposited a check on this account since July 2, 2013. Since this former client has proven to be difficult time and time again, Universal Funding diligently tries to never deposit a check from one of their customers. Unfortunately, on November 6, 2014, Universal Funding received a check made out to one of the D.B.A.’s of this former client. The check did not have the former client’s corporation name on the check. Further, the check was dated October 31, 2014, and a copy has been attached to this response. However, *** **** falsely claims that the check was “kept since July without telling me.” This is not even possible since the check was issued on October 31, 2014. Due to the check being made out to a D.B.A. of this former client (from over two and a half years ago) and Universal Funding never purchasing any invoices from the debtor whose name was on the check, Universal Funding did not associate the check with this former client. As a result, Universal Funding waited for the check to clear the bank, and then the check was red flagged for further review and investigation. On December 4, 2014, at 5:20pm, this former client emailed Universal Funding about this payment, which was for $79.50. The following day, Universal Funding researched the payment, confirmed the payment was for this former client, emailed several responses to this former client, and forwarded the funds that same day in full, without any charges. The following day, on December 6, 2014, Universal Funding received this BBB complaint. We’ve done pretty much everything we can think of to stay far away from this former client, due to her history of continued BBB complaints and continued slander. However, even after two and a half years after doing business with this client, this client is still unable to have her customers send payments directly to her and she still proves increasingly difficult.

7/10/2014 Billing/Collection Issues | Read Complaint Details

Additional Notes

Complaint: In the month of December, 2013 I had a need for financing to grow my company;******** ****** ********** ***. I did a google search and i came across Universal Funding, a spokane Washington based company that specializes in Accounts Receivables financing. On December 3rd, 2013 I called the 800 number on the website and,I talked to a ****** ****** a factoring specialist. I explained to him our financing need. I went ahead and submitted an application to him for approval. On the application and through followup phone calls I explained to ****** ****** that we did have an SBA Loan with *** **** and that the loan had encumbered all the assets of the business including Accounts Receivables. ****** told me to worry about it and that all I had to do was make a request to PNC to subordinate their receivables interest. He told me he had done hundreds of these releases and it would not be an issue. He forwarded me a form for PNC to complete. I told him I would make the request to PNC. ****** followed up through phone and email to provide me with a proposal for financing and a term sheet. The term sheet specifically stated that Universal Funding would need to have a senior lien position on the Accounts Receivables. ****** and another Universal Funding employee ****** ***** requested additional information on my company including Accounts Receivables aging schedules, invoices, tax returns and insurance information. At about that time I told ****** that *** **** had refused to release their 1st lien position on Accounts Receivables. He told me again not to worry about it and he re-sent to me a form to send to them. A few days later, Universal Funding followed up with me, with an underwriting decision which approved my company for a $800,000 line of credit, factoring $400,000 /month. They proceeded to send closing documents for execution. The documents included a Purchase and Assignment agreement and a security agreement. They told me as soon as we executed the forms we were good to go and we could start factoring our receivables. We executed the documents. After that, I went ahead and explained to ****** that *** **** had refused again to release the 1st lien position on our receivables. He went ahead and told me again not to worry about it and all I had to do was send them a form which he emailed me again. For the third time *** **** refused to release their 1st lien position. 4 Months later, we got an email from ***** ******** compliance attorney for Universal Funding, claiming that we did not live up to our purchase and assignment and security agreement we had signed and that we owe Universal Funding $165,600 early termination fees. I explained to ***** the process we went through and that *** **** could not release their 1st lien position and that is why we could not do business with them. He told me clearly that they were getting ready to sue us for the money. He told me the security agreement i signed called for us to put them on 1st position for all assets of the business and if we had any existing loans we had to pay them off. I told him, that is not what was agreed on the term sheet or in any conversations I had with ****** ******. He told me it didn't matter and the lawsuit was moving forward. Universal Funding mis-represented themselves from the very beginning with an intent to defraud us. After doing further research on them online I found lots complaints from clients they have defrauded.They used the bait of approval to induce us to sign contract and security documents with the intent of defrauding us. They know that by filing a lawsuit we would incur legal costs to defend ourselves and we would be inclined to settle with them. We will appreciate any help the Better Business Bureau can provide us in settling this and stopping this company from their unfair business practices.

Desired Settlement: Universal withdraw its demand and acknowledge that Dominion Universal never consummated an arrangement to factor the receivables of Dominion.

Business Response:

To whom it may concern,

On December 3, 2013, Universal Funding emailed a Term Sheet to this client.  The Term Sheet (see attached) stated that Universal Funding required “Accounts Receivable 1st priority position on UCC-1 financing statement.”  This client’s statement acknowledges this when he says “The term sheet specifically stated that Universal Funding would need to have a senior lien position on the Accounts Receivables.”

This client claims that Universal Funding had sent him a form on two separate occasions, before his account was approved, for him to send to *** ****.  However, this never occurred.

On December 20, 2013, this client signed the Purchase and Assignment Agreement with Universal Funding. 

On January 7, 2014, this client signed the Security Agreement.  The Security Agreement states “If Universal is not a first position secured creditor as to the receivables (and other collateral), Client shall comply with Universal’s requests so as to cause Universal to become a first position secured creditor of Client.  This shall include paying off any debts owed to other priority secured creditors within ninety (90) days of this document being executed.”

On January 9, 2014, Universal Funding offered a subordination option to this client, rather than require that the priority position creditor be paid off.

For the following 3 months after closing documents were signed, Universal Funding attempted to contact this client 10 times using both phone and email.  All of the attempts to contact the client are documented in email and phone logs.  Universal Funding was told that the owners were either unavailable or Universal Funding left messages; however, the client never responded.

On May 23, 2014, Universal Funding sent a Notice of Default to this client as there were fully signed closing documents between Universal Funding and this client, and the client was refusing to communicate with Universal Funding.  A response was requested by May 29, 2014.  Although the client alleges in the complaint that Universal Funding threatened to sue in this letter, this is false.   The client never responded to the letter.

On May 30, 2014, Universal Funding sent a Final Notice of Default to this client.  The letter stated that ******** ****** continues to fail to respond to Universal Funding, and that Universal Funding will move forward to enforce its security interest if this client does not respond by June 4, 2014.  At this point for the last five (5) months, Universal Funding had reserved $800,000.00 of funds for this client’s account, pursuant to the signed closing documents, and Universal Funding was losing revenue on these funds as the client continued to fail to meet its contract obligations.

On June 1, 2014, for the first time in over five (5) months, this client responded to Universal Funding.  One of the owners stated that the contract was over because the priority position secured creditor would not subordinate its security interest.  Universal Funding then explained that the subordination was just one available option that Universal Funding was offering; however, it was just one possible option because the two parties already agreed to pay off the priority position secured creditor within 90 days.  The owner then said he would call back the following day.

On June 3, 2014, the client emailed Universal Funding and said that they were referring this to their attorney.  Universal Funding emailed a response asking for the attorney’s contact information.    The attorney then emailed Universal Funding asking for time to review the situation.  Universal Funding then agreed with the client’s attorney that the attorney would respond by June 10th.

On June 10, 2014, the client’s attorney sent a letter to Universal Funding.  The letter though stated that there wasn’t a contract between the parties because the priority position secured creditor wouldn’t subordinate.  The letter though disregarded the fact that the two parties agreed in writing to pay off the priority position secured creditor within 90 days.

On June 10, 2014, Universal Funding responded to the client’s attorney.  The response letter quoted the section of the closing documents where the secured creditor position was discussed.

On June 11, 2014, the client’s attorney responded.  The attorney was again confusing the issue.  The attorney stated that Universal Funding offered a subordination on January 9th and since it offered a subordination, rather than requiring that the priority position creditor be paid off, that a contract didn’t exist between the parties.  This obviously is a misunderstanding of the written agreement between the parties, and it’s also a misunderstanding of the law.

On June 17, 2014, Universal Funding responded to the client’s attorney.  The letter detailed the agreement that was reached between the parties that the client specifically agreed to pay off the priority position secured creditor within 90 days.  It also again reiterated that Universal Funding only offered a subordination, rather than a payoff of the priority position secured creditor, as a possible option that would end up being beneficial to the client. 

On June 18, 2014, Universal Funding then received this BBB complaint.

The client also states in this BBB complaint that Universal Funding has defrauded clients in the past.  This is offensive and completely untrue.  There is a company with a similar name that is completely unrelated to Universal Funding, which this client apparently is viewing on the internet.  Universal Funding is  family-owned company that provides a valuable and honest service to its clients.

Universal Funding reserved $800,000.00 per month for a period of 12 months to comply with its obligations to this client and it has lost a significant amount of revenue on this account, not including the numerous employees and man hours dedicated to this account.  We don’t know why this client failed to respond to Universal Funding for over five (5) months; however, it appears they just wanted out of their contract because they no longer believed that they had a need for financing.  We’ve always been ready, able, and willing to meet our contract obligations, but this client either just doesn’t respond for months at a time or files a BBB complaint to circumvent their obligations.  We always have been able to and still desire to carry out the contract.  We ask that the client now fulfill its obligations as well.

Thank you.

Consumer Response: Universal Funding has made statements in its response that are incorrect. In addition, there is a website where other companies have complained about Universal’s tactics, 


This website identifies Universal Funding and has the company’s address in Spokane, WA. Also, it has a photograph of ***** ********, Universal’s attorney.

Universal’s posted response does not contain a proposal to resolve this dispute.

Business Response:

In our previous response, we outlined in detail the events that transpired between Universal Funding and this client.  The client responded by simply claiming that Universal Funding’s detailed log of events are “incorrect.”  The client also claims that a blog that is both offensive and extremely disturbing, created by an unknown person, is somehow pertinent to this situation.

On June 30, 2014, Universal Funding received a letter from an attorney, who was hired by this client.  The letter attempts to threaten and bully Universal Funding by claiming a violation of Washington’s Consumer Protection Act (CPA).  However, Washington’s CPA does not even apply.

All that Universal Funding has ever asked is that this client fulfills its obligations pursuant to the signed contract and not try to circumvent its obligations by filing a complaint with the BBB or threaten law violations that clearly don’t even apply.

9/19/2013 Problems with Product/Service | Complaint Details Unavailable
7/17/2013 Billing/Collection Issues | Complaint Details Unavailable

Customer Review(s)

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Customer Reviews Summary

0 Customer Reviews on Universal Funding Corporation
Positive Experience (0 reviews)
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