Universal Finance Corp. Reaches All-Time High in Portfolio Growth in Fiscal 2020/21

Universal Finance Corp. reported that fiscal 2020-2021 portfolio growth reached an all-time high for the company, as it was up 39% compared with its last fiscal year. Contributing to Universal’s growth rate was the recent increase in its average deal size, which was up 15% year over year.

Bill Scott Jr., president of Universal, said that the ongoing development of the company’s partner program has taken the company to another level.

“Inside sales from current and past customers and their referrals always makes up the majority of our monthly deals,” Scott Jr. said. “I knew it was time to concentrate on cultivating relationships with vendors, dealers and brokers. Many of these contacts we’ve worked with in the past but spent time this year really developing those partnerships.”

Originations from the partner program increased 38% year over year and contributed to 23% of the company’s fiscal year-end results.

Dan Robinson, principal of Universal, reported that delinquencies were at a record low, with less than 3.1% of the portfolio more than 30 days past due.

“Even during a year of tremendous growth, we prioritized finding the time as a team to focus on collections, and the consistent effort each and every week paid off. We’re proud of these numbers,” Robinson said.

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