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Allied Affiliated Funding Provides $8MM ABL to Computer Tech Distributor

July 11, 2014, 07:28 AM
Filed Under: Distribution

Allied Affiliated Funding is pleased to announce the following recently closed transaction:

An $8 million ledgered asset-based loan facility including a $500,000 inventory loan to a computer technology distributor. The company had been financed in the ABL division of a bank for the past several years. Over the past several months though, the company initiated a restructuring after a failed acquisition. New management has developed and started implementing a major turnaround plan that will take the next few years to fully implement. Allied provided an $8,000,000 line of credit that included a $500,000 inventory facility to take out their existing lender and provide ongoing working capital. This funding by Allied will allow the company to continue executing its turnaround plan to once again become profitable.

Allied is a nationwide commercial finance company specializing in accounts receivable factoring, offering facilities from $100,000 up to $10 million.  Founded in 1992, Allied remains one of the longest-tenured, privately owned factoring companies in the United States.

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