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Allied Affiliated Closes $1.8MM in New Invoice Factoring Transactions

October 31, 2018, 07:00 AM
Filed Under: Industry News

Allied Affiliated Funding, a division of Axiom Bank, N.A. , announced the following recently closed transactions: 

  • $1,500,000 in Invoice Factoring including a $100,000 Term Loan to a Florida-based, national market research data collection company. The company has been performing telephone and online data collections for their clients since 1995. They work with market research companies, social science, and health care studies that then sell the results to corporate America, while also focusing on political surveys during election periods.  For about five years, the company had been financed by a bank factor that, over time, had been increasing the funding size requirements for their clients. Additionally, the company experienced losses over the last year due to some litigation, which had been settled. This combination resulted in the owners seeking a new financing partner to help with their ongoing working capital needs. They approached Allied for help, and Allied came through with a $1,500,000 credit facility including a $100,000 term loan. This funding by Allied allowed the company to refinance their existing factoring line and provided ongoing working capital as the owners rebuild their business.
  • $300,000 in Invoice Factoring to a Texas-based software company, that creates and deploys custom SaaS solutions to meet the specific needs of each of their customers. With their consulting services driving the business, the company offers Business Road Mapping, Technology Road Mapping, Consulting, Developing and Support. They recently obtained a large contract resulting in a single customer concentration that prevented them from receiving traditional financing from a bank. The owner of the company had prior experience financing another company with Allied. Because of his familiarity and prior success, he approached Allied for help with his new project. Allied was able to provide almost immediate funding for the new invoices to this concentrated customer. This funding by Allied enabled the company to take on this new customer and will help with other new projects going forward.


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