Date Funded: 1/10/12
Facility Amount: $500,000
The Company: This staffing company was incorporated in 2010 and just recently began official business activity via their contract with a large government contractor for the Department of Defense. This company provides the labor to handle the maintenance, repair, overhaul or upgrade of key air, land and marine equipment.
The Issue: This company needed start-up capital in order to fulfill their contract, meet payroll, and grow their business. The company was not eligible for a bank line of credit due to being a start-up and having a single account concentration.
The Solution: This client was referred to Allied by an existing Allied client. Factoring was the perfect financing solution for this company since they are a start-up and do not yet have any solid financial history. In addition, Allied was able to work with the single account concentration.
The Win: This “Funding by Allied” will enable the company to easily meet their payroll and grow their business, all while building a proven financial track record in hopes of eventually qualifying for a bank line of credit.
January 9, 2012
Date Funded: 1/6/12
Facility Amount: $5,500,000, including a $1.5M inventory line of credit and a $500K purchase order facility
The Company: This is a privately held corporation based in California that has been in the business of wholesaling health and beauty aid cotton products since 1994.
The Issue: This company is a returning Allied client that originally factored with Allied from 2006 through 2010. They left Allied in 2010 when they obtained a traditional bank line of credit. However, they discovered within a year that factoring was a better fit for their business due to Allied’s more flexible financing structure and entrepreneurial spirit. Allied’s financing does not require any restrictive financial covenants.
The Solution: This client reapproached Allied for financing. In addition to a factoring facility, Allied also provided a $1.5M inventory line of credit and a $500K purchase order facility. Allied’s strong customer service levels, broadened asset based product offerings and flexible financing options encouraged this company to return.
The Win: This “Funding by Allied” will provide the company sufficient working capital to meet their budgeted growth for 2012 while offering less stringent, more flexible terms.
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Tags: Client Satisfaction, Recent Fundings, Small Business, Success Story, Working Capital
