Allied Affiliated Funding Provides $8,000,000 in Invoice Factoring to New Jersey Manufacturing Company – May 18, 2018
Date Funded: 4/18/2018
Facility Amount: $8,000,000
The Company: This New Jersey-based company designs and manufactures displays for large, well known companies in a variety of industries.
The Issue: In January 2018, new owners purchased the assets of this company with the help of a higher rate, short term factoring facility. After showing positive performance under their line, the company wanted a more flexible funding relationship with a lower cost of capital to help them further grow their business.
The Solution: The company sought a new financing partner, ultimately choosing Allied over the competition. Because the company now had some interim experience and operating history under their new ownership, Allied was able to provide a larger facility, higher advance rate and a lower cost of funds to help the business continue their growth trajectory for 2018.
The Win: This Funding By Allied was a much better fit with the company’s plans for the future as they continue to rebuild the company, boost sales, and grow the business.