Allied Affiliated Funding Provides $2,000,000 in Invoice Factoring to Missouri Oil & Gas Sand Distributor – May 13, 2019
Date Funded: 4/30/2019
Facility Amount: $2,000,000
The Company: This start-up is a Missouri-based company that manufactures and sells high-quality silica proppant (frac sand) to be used in the Ohio region to large, national oil and gas customers.
The Issue: Being a start-up, the company was seeking a working capital partner so they could accept new orders and grow the business.
The Solution: Referred by an existing client relationship, Allied was able to quickly set up and close this accounts receivable facility, giving the company the ability to take on this new business and focus on sales instead of worrying about their future financing needs.
The Win: This Funding By Allied will help this start-up entity grow, while also ensuring their vendors can be paid on time.