Allied Affiliated Funding Provides $1,000,000 in Receivables Financing to a Commercial Flooring Company – April 30, 2020
Date Funded: 4/24/2020
Facility Amount: $1,000,000
The Company: This Texas-based company provides commercial flooring for businesses, including schools, senior living centers and commercial projects.
The Challenge: The company was relatively new and being funded by their parent entity, unable to receive traditional bank financing directly due to their limited operating history and losses in getting the business launched initially. The company had started gaining more traction, increasing sales with larger projects but needed additional working capital to continue their growth.
The Solution: Their banker referred them to Allied, knowing that Allied could come up with creative structuring for their construction industry billing, which included progressive billings, while also providing funding at a competitive rate.
The Win: The Funding by Allied took funding pressure off the parent entity while giving the company the working capital needed to continue accepting new, larger jobs, meeting payroll and material expense needs, and growing the business.