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.