Helpful insights on good business practices, commercial loans, alternative forms of financing and planning your company’s future.
January 11, 2012
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.
Related Articles: Allied Affiliated Funding Closes First Factoring/ABL Transaction of 2012, Allied Affiliated Funding Provides $1.5 Million Working Capital Facility to a Texas Manufacturing 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, Allied Affiliated Funding Provides $500,000 Working Capital Facility, Allied Affiliated Funding Provides $1,000,000 Working Capital Facility
Comments: (0)
Tags: Client Satisfaction, Recent Fundings, Small Business, Success Story, Working Capital
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.
Related Articles: Allied Affiliated Funding Provides $500,000 in Start Up Financing to Texas Staffing Company, Allied Affiliated Funding Provides $1.5 Million Working Capital Facility to a Texas Manufacturing 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, Allied Affiliated Funding Provides $500,000 Working Capital Facility, Allied Affiliated Funding Provides $1,000,000 Working Capital Facility
Comments: (0)
Tags: Client Satisfaction, Recent Fundings, Small Business, Success Story, Working Capital
December 29, 2011
Date Funded: 12/22/11
Facility Amount: $500,000
The Company: A northeast manufacturer of high end footwear started in 1991.
The Issue: After funding with the same accounts receivable provider for several years, the company was seeking a new factoring relationship as their existing factoring company was looking to exit the business.
The Solution: Allied was able to quickly underwrite and fund the company at a lesser rate, relieving the company of the stress of losing their working capital provider while also saving them money on their factoring fees.
The Win: This “Funding by Allied” allowed the seamless transition to a new financing partner while also allowing the company to focus on running and growing their business.
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 $750,000 in Acquisition Financing to Wisconsin Distributor , Allied Affiliated Funding Provides $5,000,000 Working Capital/Growth Facility to West Coast Manufacturer , Allied Affiliated Funding Provides $2,500,000 Working Capital Facility to Northeast Based Service Company , Allied Affiliated Funding Provides $3,000,000 Growth Capital Facility to North Atlantic Packaging and Fulfillment Services Company, Allied Affiliated Funding Provides $4,000,000 Growth Capital Facility to New York Wholesaler , Allied Affiliated Funding Provides $750,000 Growth Capital Facility to New York Wholesaler and Distributor, 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
Comments: (0)
Tags: Financial, News, Recent Fundings, Small Business, Working Capital
December 22, 2011
Date Funded: 12/20/11
Facility Amount: $750,000 plus an inventory based term loan and an overadvance facility.
The Company: This Wisconsin company assembles and sells pedicure spa chairs to various customers, including large beauty product distributors as well as boutique salons. Their parent company has been looking to sell this portion of their business.
The Issue: An existing Allied client found an opportunity with this Wisconsin company as it would allow them to expand their market share and enter into a new niche product line. The sale of the company included a foreclosure on the existing assets of the company and an asset purchase. To complete the sale, additional funds were needed over and above a factoring facility based on accounts receivable. Moreover, the transaction had a quick closing deadline, as the prior potential buyer was unable to consummate the sale. The deadline for closing was within two weeks of Allied receiving the initial package.
The Solution: Allied’s existing client, having worked with Joel Flig at Allied when they came on board, reached out to Joel for assistance and referred this company to him. Allied was able to provide a factoring facility and help bridge the shortfall in the purchase price by providing a short term note component based on inventory and an overadvance facility. The entire transaction was closed within just ten business days.
The Win: This “Funding by Allied” provided the financing necessary to complete this acquisition which will potentially allow the company and Allied’s existing client to enter into the beauty products packaging markets with national distributor channels and grow their respective businesses.
Related Articles: Allied Affiliated Funding Provides $2,500,000 Working Capital Facility to Northeast Based Service Company , Allied Affiliated Funding Provides $1,000,000 Growth Capital Facility to Illinois Manufacturing 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 $500,000 in Working Capital to Northeast Manufacturer, Allied Affiliated Funding Provides $4,000,000 Growth Capital Facility to New York Wholesaler , 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, Allied Affiliated Funding Provides $1,000,000 Working Capital Facility
Comments: (0)
Tags: Acquisition Capital, News, Small Business, Success Story, Working Capital
November 28, 2011
Date Funded: 9/22/11
Facility Amount: $5,000,000 with a $500,000 purchase order sub-line
The Company: This West Coast company manufactures fine men’s clothing under their signature label as well as private label for some of their customers.
The Issue: The company had received large orders from some of their existing customers, creating concentration concerns and availability limitations. Their current factoring company was not able to provide sufficient credit for the company to take on this additional business.
The Solution: The company was referred to Allied, and Allied was quickly able to evaluate the risk and provide a factoring facility allowing the company to continue to grow, while also providing financing for their other customer needs. To help with this growth and the company’s working capital needs, Allied also provided a $500,000 purchase order facility.
The Win: This “Funding by Allied” allowed the company to continue to grow their business while maintaining strong customer relationships.
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 $500,000 in Working Capital to Northeast Manufacturer, Allied Affiliated Funding Provides $2,500,000 Working Capital Facility to Northeast Based Service Company , Allied Affiliated Funding Provides $3,000,000 Growth Capital Facility to North Atlantic Packaging and Fulfillment Services Company, Allied Affiliated Funding Provides $4,000,000 Growth Capital Facility to New York Wholesaler , Allied Affiliated Funding Provides $750,000 Growth Capital Facility to New York Wholesaler and Distributor, 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
Comments: (0)
Tags: Recent Fundings, Small Business, Working Capital
November 17, 2011
Date Funded: 11/16/11
Facility Amount: $2,500,000
The Company: This Northeast based service company is a producer of personalized direct mail and marketing materials (i.e., magazine subscription renewals, credit card solicitations, etc.) for companies and large organizations.
The Issue: After an acquisition in 2010, the company faced operational and financial challenges. Management performed a strategic review of the business, which included elimination of the low margin customers, closing facilities and reducing overhead, while identifying methods to improve efficiencies in the business. Unfortunately, the financial burden was too great and the company began seeking other options, one of which included selling the business.
The Solution: Allied was able to provide acquisition financing allowing the company to be sold through an asset purchase arrangement. The management team and workforce remained intact under the leadership of a new, industry experienced owner. Allied had an opportunity to enter into this transaction because of Joel Flig’s long term relationship with the referral entity and managing member. Flig was introduced on behalf of Allied, and then Allied’s Deal Team worked diligently, coordinating with seven different parties and at least nine different attorneys, to orchestrate the timely funding of this transaction.
The Win: This “Funding by Allied” will provide the company the working capital they need to meet the demands of their business. With this new funding, new management and a new capital and debt structure, the business is expected to become profitable again in 2012.
Related Articles: Allied Affiliated Funding Provides $1,000,000 Growth Capital Facility to Illinois Manufacturing 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 $750,000 in Acquisition Financing to Wisconsin Distributor , Allied Affiliated Funding Provides $4,000,000 Growth Capital Facility to New York Wholesaler , 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, Allied Affiliated Funding Provides $1,000,000 Working Capital Facility, Allied Affiliated Funding Provides $750,000 Growth Financing Facility
Comments: (0)
Tags: Acquisition Capital, Recent Fundings, Small Business, Success Story, Working Capital
November 4, 2011
Date Funded: 9/29/11
Facility Amount: $3,000,000
The Company: Started in 1985, this North Atlantic based company offers packaging and fulfillment services to large retailers and cosmetics companies located throughout the United States.
The Issue: The company received a large order from one of their existing customers, creating a concentration concern for their existing financing source. Due to this customer concentration, their current factoring company was not able to provide sufficient credit for the company to take on this new business.
The Solution: Allied was successfully able to evaluate the risk and provide a facility that would not only allow the company to accept this large order, but also provide financing for all of their other customer needs.
The Win: This “Funding by Allied” allowed the company to continue growing their business while maintaining strong customer relationships.
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 $500,000 in Working Capital to Northeast Manufacturer, Allied Affiliated Funding Provides $5,000,000 Working Capital/Growth Facility to West Coast Manufacturer , 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 $750,000 Growth Capital Facility to New York Wholesaler and Distributor, 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
Comments: (0)
Tags: Recent Fundings, Small Business, Working Capital
October 3, 2011
Date Funded: 10/3/11
Facility Amount: $4,000,000
The Company: This New York based company is a wholesaler of children’s sleepwear and hosiery.
The Issue: The company experiences seasonal fluctuations in their industry, resulting in a larger credit need during certain times of the year. Their current factoring company was unable to provide sufficient credit for some of these customers due to concentration concerns. Because of this, the company was faced with having to turn away new business from their existing customers.
The Solution: The company was introduced to Allied, and Allied was quickly able to credit qualify the customers and the credit amounts needed. To help facilitate additional orders and improve the company’s working capital, Allied was also able to provide the company a seasonal purchase order facility.
The Win: This “Funding by Allied” allowed the company to meet their customers’ demands while also creating additional capital to accept new orders and grow their business.
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 $2,500,000 Working Capital Facility to Northeast Based 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, Allied Affiliated Funding Provides $500,000 Working Capital Facility, Allied Affiliated Funding Provides $1,000,000 Working Capital Facility, Allied Affiliated Funding Provides $750,000 Growth Financing Facility, Allied Affiliated Funding Provides $300,000 Working Capital Facility
Comments: (0)
Tags: Recent Fundings, Small Business, Success Story, Working Capital
September 7, 2011
Date Funded: 9/7/2011
Facility Amount: $750,000
The Company: Started in 2006, this New York based company is a wholesaler and distributor of seasonal decorations. The company sells to big box stores as well as to smaller retailers.
The Issue: The company had an existing factoring facility in place. However, with their new orders combined with the company’s seasonal growth fluctuations, their current financing provider could not meet their working capital needs.
The Solution: The company was referred to Allied through a local bank relationship. Allied was able to fund the company quickly, paying off the existing factoring facility and providing sufficient capital for the company to meet its seasonal demand and growth needs.
The Win: This “Funding by Allied” will not only enable the company to meet its existing obligations, but it will also enable them to accept more orders for the holiday seasons.
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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 $500,000 in Working Capital to Northeast Manufacturer, Allied Affiliated Funding Provides $5,000,000 Working Capital/Growth Facility to West Coast Manufacturer , Allied Affiliated Funding Provides $2,500,000 Working Capital Facility to Northeast Based Service Company , Allied Affiliated Funding Provides $3,000,000 Growth Capital Facility to North Atlantic Packaging and Fulfillment Services 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
Comments: (0)
Tags: Recent Fundings, Small Business, Working Capital
September 7, 2011
Date Funded: 9/6/11
Facility Amount: $300,000
The Company: Founded in 2008, this New York based company is the exclusive provider and installer of escalator handrail advertising in the United States. Their product is a non-permanent, patented film applied to an existing escalator handrail using their patented applicator process which allows for advertisements, branding and awareness campaigns to be placed on the handrails of escalators and moving walkways. This company is partnered with the world’s leading escalator handrail manufacturer and provider.
The Issue: Although initially slow to start, the company has recently obtained a tremendous amount of interest from numerous airports to procure this style of advertising. Since they are the exclusive provider of this product/service in the United States, they are growing now at a very rapid speed and need help with cash flow.
The Solution: A banker in New York at one of our referral banks who was familiar with Allied and our referral relationship with the bank, referred this prospect to Tanya Fontenot at Allied. Because the company is essentially a start up with no real financial history for the bank to consider, the bank was unable to provide funding. However, Allied was quickly able to provide a start up/growth capital factoring facility for this company.
The Win: This “Funding by Allied” will not only enable the company to stay current on fees with their licensee/partner, but it will also enable them to bid on more jobs so they can grow their business.
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 $1.5 Million Working Capital Facility to a Texas Manufacturing Company, Allied Affiliated Funding Provides $500,000 in Working Capital to Northeast Manufacturer, Allied Affiliated Funding Provides $5,000,000 Working Capital/Growth Facility to West Coast Manufacturer , Allied Affiliated Funding Provides $2,500,000 Working Capital Facility to Northeast Based Service Company , Allied Affiliated Funding Provides $3,000,000 Growth Capital Facility to North Atlantic Packaging and Fulfillment Services Company, Allied Affiliated Funding Provides $4,000,000 Growth Capital Facility to New York Wholesaler , Allied Affiliated Funding Provides $750,000 Growth Capital Facility to New York Wholesaler and Distributor, Allied Affiliated Funding Provides $1,000,000 Growth Capital Facility to Illinois Manufacturing Company
Comments: (0)
Tags: Client Satisfaction, Recent Fundings, Small Business, Working Capital
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