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.