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August 31, 2010
Facility Amount: $500,000
Date Funded: 8/31/10
The Company: A metal fabricator of industrial plant equipment located in Alabama.
The Issue: This manufacturing company had been factoring with another company for a number of years; however, due to recent management and procedural changes within that factoring company, their service level deteriorated significantly which prompted them to seek funding from an alternate factor.
The Solution: A broker, familiar with this company and Allied’s excellent customer service program, referred them to Tanya Fontenot at Allied to provide a replacement facility. In accordance with their factoring agreement, the company provided a 90 day termination notice to their existing factor, then moved their business to Allied.
The Win: With the funding provided by Allied, this company can now meet their working capital needs without the frustration of having to contend with unsatisfactory service level conditions. They now have the assurance of the quality standards and service excellence consistently adhered to by Allied.
Related Articles: Allied Affiliated Funding Provides $1,000,000 in Growth Financing to Staffing Company, Allied Affiliated Funding Provides $250,000 in Growth Financing to Texas Service Company, Allied Affiliated Funding Provides $1,000,000 in Working Capital Financing to Manufacturing Company, Allied Affiliated Funding Provides $1,000,000 in Growth Financing to Technology Company, Allied Affiliated Funding Provides $500,000 in Start Up Financing to Texas Staffing Company, Allied Affiliated Funding Closes First Factoring/ABL Transaction of 2012, Allied Affiliated Funding Provides $500,000 in Working Capital to Northeast Manufacturer, Allied Affiliated Funding Provides $5,000,000 Working Capital/Growth Facility to West Coast Manufacturer , Allied Affiliated Funding Provides $2,500,000 Working Capital Facility to Northeast Based Service Company , Allied Affiliated Funding Provides $3,000,000 Growth Capital Facility to North Atlantic Packaging and Fulfillment Services Company
Comments: (0)
Tags: Recent Fundings, Small Business, Working Capital
August 20, 2010
Facility Amount: $5,000,000
Date Funded: 8/19/10
The Company: This New York based manufacturing and distribution company was established in 1999 as an Importer/Manufacturer of outerwear for men, women and children. Currently, they manufacture private label and branded outerwear for a variety of importers and retailers.
The Issue: Recently, the company signed a license agreement to become the exclusive manufacturer and marketer of outerwear for a very well established and distinguished clothing brand. The well-known brand is expected to generate business with both regional and national department stores, and this effect is already being demonstrated in the company’s open orders.
The Solution: Due to the company’s need for growth capital, a Capital Management company referred them to Joel Flig at Allied.
The Win: By securing a relationship with Allied, this company now has a factoring partner that can grow with them and provide the necessary working capital for their business to expand and flourish.
Related Articles: Allied Affiliated Funding Provides $1,000,000 in Growth Financing to Staffing Company, Allied Affiliated Funding Provides $250,000 in Growth Financing to Texas Service Company, Allied Affiliated Funding Provides $1,000,000 in Working Capital Financing to Manufacturing Company, Allied Affiliated Funding Provides $1,000,000 in Growth Financing to Technology Company, Allied Affiliated Funding Provides $500,000 in Start Up Financing to Texas Staffing Company, Allied Affiliated Funding Closes First Factoring/ABL Transaction of 2012, Allied Affiliated Funding Provides $500,000 in Working Capital to Northeast Manufacturer, Allied Affiliated Funding Provides $5,000,000 Working Capital/Growth Facility to West Coast Manufacturer , Allied Affiliated Funding Provides $2,500,000 Working Capital Facility to Northeast Based Service Company , Allied Affiliated Funding Provides $3,000,000 Growth Capital Facility to North Atlantic Packaging and Fulfillment Services Company
Comments: (0)
Tags: Joel Flig, Recent Fundings, Small Business, Working Capital
August 10, 2010
Facility Amount: $650,000
Date Funded: 8/2/10
The Company: A Missouri based company that provides staffing and recruiting services primarily for the Information Technology and Accounting sectors.
The Issue: This company came to Allied Affiliated Funding seeking our factoring services due to a change in the ownership structure of the company that needed to occur. Prior to Allied’s funding, 51% of the company was owned by a CPA firm and 49% owned by an individual. The CPA firm had guaranteed a Line of Credit (LOC) with a bank for the company. Since the CPA firm would no longer be a part of the company, the LOC needed to be paid off so that the CPA firm could be released from the guaranty and any affiliations with the line.
The Solution: A broker referred the remaining owner of this company and his new partner to Eli Gross at Allied Affiliated Funding as an alternative source of funding.
The Win: By partnering with Allied, this company was quickly able to make the necessary ownership structure changes, pay off the existing LOC, and maintain the working capital they need to successfully run the business.
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Comments: (0)
Tags: Recent Fundings, Small Business, Working Capital
August 3, 2010
Facility Amount: $2,500,000
Date Funded: 7/30/10
The Company: A Texas based wholesale distributor of apparel products, primarily for leather and suede outerwear.
The Issue: This company’s major customer, with whom they have a 9 year history, changed their terms from Net 10 to Net 75 days, leaving the company with a funding shortfall.
The Solution: A local banker, unable to assist this company due to a single customer concentration, referred the deal to Clay Tramel. Allied provided this company funding within 10 business days from the initial banker referral.
The Win: The working capital facility provided by Allied bridges this company’s funding gap with suppliers. This retail company now has the ability to fund the growth of its major customer and the opportunity to add new customers this fall. The banker and Allied will monitor the company’s progress and once their customer base is more diversified, the company will become bankable and will be referred back to the bank for assistance.
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Comments: (0)
Tags: Small Business, Working Capital
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