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Allied Affiliated Funding Announces Recent Deals Totaling $5.2MM

August 25, 2016, 07:25 AM

Allied Affiliated Funding announced the following recently closed transactions:

  • $200,000 accounts receivable facility to a small construction subcontractor dealing in telecommunications upgrades, installations, and laying fiber-optic cable. The company did not have the working capital to take on additional business in a new market for a growing new customer relationship. To help with this, Allied agreed to work with their one new customer to facilitate immediate cash into the business without having to wait the 60 days for payments to arrive. The Funding By Allied occurred in less than a week and helped the company quickly expand their business.
  • A $5 million accounts receivable, inventory and term loan facility to a manufacturer and distributor of automotive fluids. While under the prior ownership, the company began experiencing severe losses and went through an assignment for the benefit of creditors. A potential buyer was very interested in making a bid to save the company, but without substantial capital he had no way to do so. This buyer, a former client, approached Allied with a request to fund the purchase and provide ongoing working capital. With critical timing on the funding, Allied structured, documented, closed, verified and funded the deal in less than one week - providing a 95% initial advance rate on the accounts receivable, a $500,000 inventory loan, and a $200,000 bridge loan to cover the auction price. This Funding By Allied provided a former customer the capital needed to buy another business, rebuild a company and save jobs in the local area.

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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