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Allied Affiliated Funding Closes $2.5MM in New Transactions

October 12, 2017, 07:00 AM
Filed Under: Industry News

Allied Affiliated Funding announced the following recently closed transactions:

  • $500,000 accounts receivable facility to a veteran owned business that serves as a subcontractor, providing procurement services and staffing placements to support domestic and international defense department suppliers as well as commercial companies. Their primary focus is supplying various goods to US companies that are operating abroad, specifically in the Middle East. Procurement goods can range from items such as bomb suits to support Raytheon in Afghanistan, to a large lot of bandages to support prime contractors to the US government for supplies needed on military bases. This returning Allied client recently received large contracts and needed a working capital line of credit. Allied was able to get them updated and funding again with Allied in only a few days. This Funding By Allied provided the company with the working capital they needed – quickly – allowing for new growth.
  • $2,000,000 accounts receivable facility to a Texas-based pipeline construction company. They dig the trenches, set, weld and bury the pipe, and construct the various pump stations along the line. The company has been with their bank since 2007, when they first started the business. With the recent increase in the energy market, the company has experienced significant growth, almost doubling their sales compared to last year. Their current bank provider was unable to increase their line as they were not comfortable with increased exposure in the oil and gas industry. With a need for a larger line of credit, payroll fast approaching, and their largest customer delaying payments due to Hurricane Harvey, they needed a fast funding solution. Within one week, Allied was able to refinance their bank line and provide a non-notification working capital line for the company to make payroll. This Funding By Allied provided the company with the growth capital they needed to quickly accommodate their increased sales, payroll and operating expenses.


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