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February 22, 2011
Date Funded: 2/17/11
Facility Amount: $1,500,000
The Company: This Texas based manufacturing company specializes in machine fabrication for the oil & gas industry, mining industry, and various heavy machinery industries.
The Issue: The company had a difficult year in 2010 due to the economy and decreasing orders, but has recently seen a major turnaround. Not only are their current customers starting to place orders again, but they are also receiving extra orders due to a new, state-of-the-art machine they purchased from overseas.
The Solution: When their accounts payable situation became stretched due to a sales decrease in 2010 along with their customers’ increased pay cycle, this former client came back to Allied for funding. These issues, along with the expected growth due to the new machine’s capabilities, encouraged the owner to return to Allied for factoring services.
The Win: Factoring with Allied will allow the company to satisfy many of their vendors, thereby improving their accounts payable status and cash flow.
Related Articles: 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 $1,000,000 in Growth Financing to Staffing Company, Allied Affiliated Funding Provides $1,000,000 in Growth Financing to Technology Company, Allied Affiliated Funding Provides $2,500,000 Working Capital Facility to Northeast Based Service Company , Allied Affiliated Funding Provides $4,000,000 Growth Capital Facility to New York Wholesaler , Allied Affiliated Funding Provides $300,000 Start Up/Growth Capital Facility to New York Service Company, Allied Affiliated Funding Provides $1,000,000 Growth Capital Facility to Illinois Manufacturing Company, Allied Affiliated Funding Provides $250,000 Working Capital Facility to Texas Distribution Company, Allied Affiliated Funding Provides $500,000 Working Capital Facility to Texas Service Company
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Tags: Client Satisfaction, Recent Fundings, Small Business, Success Story, Working Capital
February 17, 2011
We are pleased to announce the details of another “Funding By Allied” courtesy of Joel Flig, Managing Director, New Business, further strengthening Allied Affiliated Funding’s presence in the New York market and nationwide:
Date Funded: 2/11/11
Facility Amount: $1,500,000
The Company: This New York based company is a full-service marketing and communications company specializing in social media marketing, advertising, research and video production.
The Issue: Due to the company’s rapid growth and their account debtors paying in 60-75 days, there was an urgent need for working capital.
The Solution: This company was originally referred to Allied in late 2010 while the company was also trying to obtain a traditional bank facility. Their request for this bank line of credit was ultimately declined due to their limited financial history combined with the company’s need for a larger line of credit to finance new customer contracts. Therefore, the company decided to approach Allied again for immediate assistance with their working capital needs. Within less than one week, Allied was able to complete the due diligence process and closing documentation and provide the company the working capital they needed.
The Win: Not only was Allied able to provide a quick funding for this company and an ongoing cash flow solution, but Allied is also factoring a 100% concentration with their largest customer.
Related Articles: Allied Affiliated Funding Provides $1,000,000 in Growth Financing to Staffing 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 $2,500,000 Working Capital Facility to Northeast Based Service Company , Allied Affiliated Funding Provides $4,000,000 Growth Capital Facility to New York Wholesaler , Allied Affiliated Funding Provides $1,000,000 Growth Capital Facility to Illinois Manufacturing Company, Allied Affiliated Funding Provides $250,000 Working Capital Facility to Texas Distribution Company, Allied Affiliated Funding Provides $500,000 Working Capital Facility to Texas Service Company, Allied Affiliated Funding Provides $500,000 Working Capital Facility
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Tags: Recent Fundings, Small Business, Success Story, Working Capital
February 3, 2011
Date Funded: 1/27/11
Facility Amount: $5,000,000
The Company: This Fort Worth based telecom company is a wholesale enhanced voice service provider serving most of North America.
The Issue: This company was funded by a bank and suffered losses in 2010 due to capital expenditure improvements that were necessary to take on additional business. Because of the losses, the company needed to find an alternative financing source.
The Solution: A business associate referred the company directly to Clay Tramel, CEO. Allied was quickly able to establish a $5,000,000 credit facility for this company which will now be factoring approximately 85% of their receivables. Allied was able to transition the company to a factoring facility until they can return to a more traditional bank facility.
The Win: Allied was able to assist by not only providing a timely funding for this company, but also by providing a $350,000 term loan that softened the company’s transition from the existing financing source to Allied.
Related Articles: Allied Affiliated Funding Provides $1,000,000 in Growth Financing to Staffing 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 $2,500,000 Working Capital Facility to Northeast Based Service Company , Allied Affiliated Funding Provides $4,000,000 Growth Capital Facility to New York Wholesaler , Allied Affiliated Funding Provides $1,000,000 Growth Capital Facility to Illinois Manufacturing Company, Allied Affiliated Funding Provides $250,000 Working Capital Facility to Texas Distribution Company, Allied Affiliated Funding Provides $500,000 Working Capital Facility to Texas Service Company, Allied Affiliated Funding Provides $500,000 Working Capital Facility
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Tags: Recent Fundings, Small Business, Success Story, Working Capital
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