Sometimes It Takes Three to Get the Job Done – September 1, 2020
“No matter what technology and shiny new tools we use in our business, we should always come back to relationships.”
– Cathy Engelbert
Focus on Relationships
At Allied Affiliated Funding, a division of Axiom Bank, N.A., relationships are central to who we are. In everything we do, we strive to build strong relationships with our clients and their customers — and to support our clients’ business relationships in any way we can.
It’s our focus on relationships that has helped us solidify partnerships with banks across the country. We understand that when a bank refers a client to Allied, their brand and reputation are on the line. Our long-standing relationships with banks as referral partners are evidence that banks know they can trust Allied to take care of their clients.
One of our banking partners referred their client to us, a Texas-based, female-owned designer and manufacturer of barbecue grills. They had received a multi-million-dollar order from a national retailer, and although the business held a significant line of credit with their bank, the size of the order far exceeded that amount and was simply too much for their long-time lender to fund. Without additional funding, the business owner would have no choice but to turn down the order and miss out on an extraordinary opportunity to expand her business.
That’s when we stepped in to help.
Understanding and valuing the relationship the company had with their lender — and their desire to maintain that relationship — we worked together with the bank to create a “carve out,” splitting collateral with the bank and helping the client achieve a blended cost of capital, reducing their overall cost of financing.
Allied structured a $2.5 million credit facility for this company based solely on the receivables of their one large customer, giving the business owner the opportunity to take on new business and expand her products, while maintaining her line of credit with her existing banker. We also offered increased eligibility of up to 120 days, to accommodate our client’s net-90 day terms with their retail customer.
Because we prioritize relationships, we take the time to get to know and understand the unique goals and objectives of each of our clients. Our team works diligently to structure creative and flexible alternative funding options for our clients, helping them manage cash flow more effectively, reduce costs, increase control, and maximize productivity.
From payables to receivables and online access to effective fund management, Allied offers the tools and advice business owners need to manage their working capital. Your success is our success. Because of this credit facility, our client can see her products in one of the world’s largest Big Box retail stores — a dream for any small business.
Do you have clients needing new funding options? Call us to talk about the options we can offer and our referral program.