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Allied Affiliated Funding Closes $7.5MM Facility to Energy Services Company

December 29, 2015, 07:44 AM
Filed Under: Energy Services

Allied Affiliated Funding announced the following recently closed transaction:

$7.5 million accounts receivable facility including a $1.2 million real estate loan to an oil and gas servicing company that focuses on water and mud hauling. The company was previously financed through a bank factoring division. The company was acquired, and new management decided to also seek a new financing relationship that could provide the company more working capital. This new management team approached Allied needing more creative business cash flow solutions, including a larger line, a 90% advance rate, additional availability on previously excluded customers, and a $1.2 million real estate loan.
This funding by Allied provided financial relief through additional cash flow. It enabled the company to securely make their payroll, fund ongoing operating needs, and pay stretched vendor amounts, thereby restoring those relationships, along with providing even more working capital for growth.

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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