Allied Affiliated Funding Provides $1,500,000 in Receivables Financing including a $100,000 Term Loan to Florida Market Research Company – October 29, 2018
Date Funded: 7/3/2018
Facility Amount: $1,500,000 including a $100,000 term loan to help with working capital
The Company: This company is a Florida-based, national market research data collection company. They have been performing phone and online data collections for their clients since 1995, working 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.
The Issue: This company had been financed by a bank factor for about five years. Over time, the factor had been increasing the funding size requirements for their clients. Additionally, the company experienced losses over the last year due to litigation costs regarding minimum wage increases, all of which has since been settled. This combination resulted in the company needing to seek a new financing partner to help with their ongoing working capital needs.
The Solution: The company approached Allied for help, and Allied came through with a $1,500,000 credit facility including a $100,000 term loan.
The Win: This Funding By Allied allowed the company to refinance their existing factoring company and provided ongoing working capital as the owners work to rebuild their business.