Allied Affiliated Funding Provides $500,000 in Invoice Factoring to Kentucky Technology Company – March 29, 2018
Date Funded: 3/27/2018
Facility Amount: $500,000
The Company: This 38 year old, Kentucky-based company provides wireless equipment and systems, specializing in wireless voice communication for industrial and public service use such as nuclear, public safety, energy and paper products manufacturing. They pioneer the specification of mobile data systems for public safety.
The Issue: The company had been self-financed for the last year, but with several large, new orders, they were seeking a working capital line to help take on these new jobs, especially for the customers with net 60 day terms.
The Solution: Allied had been calling on this business owner for a few years to check in on his capital needs. When the time was right, he remembered Allied and reached out directly looking for a funding partner who could finance the company before month end. Allied accepted the challenge, beating the timeframe and ensuring the company received the funding they needed quickly.
The Win: This Funding By Allied gave this company the working capital they needed to accommodate their growth and fulfill their new orders.