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Allied Affiliated Funding Announces Recent Transactions

December 13, 2016, 07:10 AM

Allied Affiliated Funding announced the following recently closed transactions:
$2 million accounts receivable facility to a current Allied client who wanted to diversify and launch a new company in the healthcare industry. This at-home medical lab services business works with Medicare and third-party insurance companies. With the unknown challenges that come with starting a new company, in addition to the additional hurdles in medical billing, the owners approached Allied for help.

$5 million accounts receivable facility with a $1,000,000 letter of credit to an oil and gas chemical distributor/wholesaler. Though the company used to buy inventory (chemicals) for resale, when the oil and gas market took a downturn their product had to be sold for much less, creating a loss of almost $1,000,000 last year. To protect themselves from future industry downturns, the company changed their business model, essentially becoming a broker of these commodity chemicals. With the losses, their bank lender of  ten years did not renew their line, leaving them without working capital or a collateralized letter of credit for their largest supplier.

Headquartered in Dallas, Texas for the past 22 years, Allied provides creative, flexible, and fast factoring and asset-based lending services to a wide array of industries. Allied's clients include commercial businesses with commercial accounts receivable that are seeking working capital but do not qualify for traditional bank financing. Additional offices are located in New York and Florida.

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