Allied Affiliated Funding Provides $2,500,000 in Invoice Factoring to Texas Manufacturing Company – January 7, 2019
Date Funded: 12/12/18
Facility Amount: $2,500,000
The Company: This Texas-based, woman-owned business designs and manufactures BBQ grills, selling to national retailers throughout the United States.
The Issue: The company recently received their first orders from two big box retailers with over $20MM in purchase orders over the next several months. The company’s existing, long-term bank lender wanted to keep the business but was unable to offer sufficient financing for this increased growth.
The Solution: The banker referred the transaction to Allied, knowing that Allied could “carve out” these new orders for receivables financing, while still giving the banker the ability to retain their line of credit at the bank along with their depository relationships. Allied was able to structure a customer specific, $2,500,000 receivables-based credit facility for this company.
The Win: This Funding By Allied will give this business owner the opportunity to take on new business, keep her line of credit with her existing banker, and continue to grow and expand her products and her company.