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Allied Affiliated Funding Closes $1.2MM in A/R Financing for Two Texas Firms

December 05, 2017, 08:00 AM
Filed Under: Industry News

Allied Affiliated Funding announced the following recently closed transactions:

  • $750,000 accounts receivable facility to a Texas-based staffing company supporting IT, telecom and accounting/finance customers. This start-up company needed growth capital to help launch their new staffing business, but they could not qualify for a bank line because they did not have any operating history. The company was referred to Allied by an existing Allied client, and Allied was able to provide a $750,000 factoring facility. This Funding By Allied gave this company the working capital they needed to get their business started with financial peace of mind.
  • $500,000 accounts receivable facility to a Texas-based based retail services organization that provides project management and professional installation to brands, retailers and retail manufacturers across the country. The company had previously been a bank client with a traditional line of credit. With losses experienced after losing their largest customer during 2015, they struggled growing the business and maintaining their financial covenants for their lender. Ultimately, the bank issued a non-renewal of their line. With payroll approaching and a frozen line, the bank referred the company to Allied to move the facility quickly, in time to refinance their bank line and meet their payroll obligations. This Funding By Allied provided the refinancing needed along with additional working capital for the business going forward.


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