Allied Affiliated Funding Provides $500,000 in Invoice Factoring to Texas Water Conservation and Management Company – March 18, 2019
Date Funded: 3/12/19
Facility Amount: $500,000
The Company: This Texas-based business is a water conservation and efficiency company focused on water management services such as planning, managing, and maintaining irrigation systems, and more with the end goal of providing their customers with sustained water savings. Their customers include municipalities, home owners’ associations, and commercial businesses.
The Issue: The company had recently received more business from one of their large current customers, creating concentration concerns and suppressed availability under their existing traditional bank line of credit. This growth was expected to continue to increase through the rest of 2019.
The Solution: Their long-term banker referred the transaction to Allied to provide a credit facility for a single account debtor ‘carve-out’ to support the company’s ongoing growth and working capital needs.
The Win: This Funding by Allied gave the company the working capital they needed to continue to grow their business, while giving their bank the ability to maintain their existing line of credit and treasury services.