Allied Affiliated Funding Provides $500,000 in Invoice Factoring to Texas Retail Service Company – October 12, 2017
Date Funded: 10/12/17
Facility Amount: $500,000
The Company: This Texas company is a national retail services organization that provides project management and professional display installation to brands, retailers and retail manufacturers across the country.
The Issue: The company had previously been a bank client with a traditional line of credit. With losses experienced after losing their largest customer during 2015, they struggled growing the business and maintaining their financial covenants for their lender. Ultimately, the bank issued a non-renewal of their line.
The Solution: With payroll approaching and a frozen line, the bank referred the company to Allied to move the facility quickly, in time to refinance their bank line and meet their payroll obligations.
The Win: This Funding By Allied provided the refinancing needed along with additional working capital for the business going forward.