Date Funded:  12/8/10

Facility Amount:  $300,000

The Company:  This company, headquartered in Oklahoma, serves the oil and gas industry in Pennsylvania and New York.  The company’s primary areas of business presently include mud solidification, roustabout and disposal containers.  Future areas of work include rental equipment and pre-drilling site preparation.  One of the owners is a prior factoring client of Allied under a different company he owned at that time.

The Issue: The owners of this start up company needed capital to get the business started, to grow and to solidify contracts.  The company’s official operations just began on 12/1/10.

The Solution:  Knowing that Allied has the ability to fund start up companies, this former client worked with Eli Gross at Allied to establish a factoring relationship for his new oil and gas field services business.  Due to the prior working history, Allied was able to set this facility up both quickly and efficiently.

The Win:   Allied was able to assist by funding this company’s first round of invoices and by providing them the working capital they need to capitalize on growth opportunities.