Facility Amount: $2,500,000

Date Funded: 7/2/10

The Company:  A New Orleans based labor contractor specializing in marine work. The company has recently obtained new contracts to provide certified haz-mat workers to assist in the BP oil spill clean up in the Gulf of Mexico.

The Issue: With the unexpected surge in their business as a result of this disaster, the company needed working capital to accommodate their growth and to meet payroll. 

The Solution:  An independent broker referred the deal to Tanya Fontenot at Allied.  Tanya was able to win the deal despite the company having a commitment from another financing source.  Allied received the company’s signed proposal on Monday at 4:00 pm and then funded the company on Friday morning. 

The Win:  With the expedited funding provided by Allied, this company is now able to meet their weekly payroll and facilitate their unprecedented growth as a result of this crisis.  Allied was able to fulfill our commitment to quickly assist businesses involved in the oil spill clean up process.