UB Finance launches new services

UB Finance Company Limited (UBF) has expanded its trade-related portfolio by offering factoring and working capital solutions to small and medium enterprises.

"UBF believes that there is an increasing demand for working capital solutions from Sri Lankan businesses to improve their liquidity through alternative forms of finance. Hence it is an excellent opportunity to support the development of local businesses through the setting up of the Factoring and Working Capital Solutions unit," a spokesman for UBF said.

"Factoring is an effective instrument for large clients and small and medium-sized businesses.

It will increase the number of buyers, expand the area of deliveries, boost sales, derive maximum profit from seasonal demand highs and liquidate cash gaps," he said.

DGM of UBF, Suresh Kandiah said, "We are excited to launch UBF Factoring and Working Capital Services and are we offer tailor-made working capital solutions to suit our clients' specific needs, with the support of a dedicated relationship management team."

"We are also supported by a custom-built, state-of-the-art factoring and working capital management solution which will provide our clients with on- going support, further enhancing our value to the customer," he said.

Senior Manager, Factoring, Ms. Himali Perera said, "UB Finance Company Limited is backed the Union Bank of Colombo. Therefore, having the stability of a bank and flexibility of a finance company, we are capable of providing specialised services to our clients."

Ms. Perera said providing a superior customer service is the key to success in this competitive industry and added that her team is ready to support clients with out-of-the box working capital solutions.

Kandiah said that this new product line along with the other services such as, leasing, higher purchase, loans, fixed deposits, savings and real estate, will provide a comprehensive financial solution to their customers.