Brandon Norris

Wichita, KS (USA)
Role(s):
Founder/Owner/Principal

United Management Associates

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Location: Wichita
Industry: Finance
Year Founded: 2010
Number Employees: 1-10 people
Business Stage: Growth (not profitable)
Entity Type: Limited Liability Company
Description: What is recession proof, profitable, and will never be in short demand? Debt collection. The Bureau of Labor and Statistics anticipates that between now and 2106, the 40 Billion Dollar debt collection industry will experience a 23% rate of growth, a much faster rate than the average for all industries. United Management Associates, a local debt buyer, is seeking additional capital to invest in additional portfolios. As a managing partner I would prefer finding an investor with roots in Wichita. I am writing you today to offer you an exciting opportunity to invest in a young but very well established local business. A well established local businessman is building a debt collection business in Wichita. The business started in the third quarter of 2010 with a $25,000 investment by the owner. The primary business model is based on buying past due debt for a small fraction of the face value and collecting more than was paid. The first effort grew a $7,000 investment into over $20K in collections in about three weeks. The company has secured a small set of offices in West Wichita and installed phones and computers. The management team consists of: * An experienced, high performing debt collection professional * A P/T senior advisor with over 25 years experience in debt collection * The owner with more than 35 years experience in building and growing small businesses The team has also hired an IT professional and trained several telephone debt collectors who work in the local offices. Monthly expenses are held to $650, excluding wages. The company is licensed to collect debts in several states including Kansas. The company is seeking investment capital of $30,000 to $50,000. The majority will be used to purchase other portfolios with about 10% allocated for operating expenses.