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.