Facility Amount: $3,000,000

Date Funded: 3/3/10

The Company: A fulfillment facility for household, personal care, health and beauty aid products located in Chicago, IL. The owners and management team purchased the company over a year ago with venture capital and a factoring facility. Approximately 80% of the company’s business is concentrated with two customers.

The Issue:  As the company has continued to grow, they exceeded their funding capacity under their current factoring relationship and consequently, were looking for a new funding partner who could accept the debtor concentrations and would be willing to grow with them.

The Solution: This company came directly to Allied through Joel Flig. We were able to offer them a larger credit line with higher limits for their account debtors. The company terminated their existing factoring relationship and paid the necessary penalties to move their business to Allied.

The Win: With the funding provided by Allied, the company now has the additional working capital they need to better operate and manage their business needs.