Allied Announces First Funding for March

Facility Amount: $3,000,000

Date Funded: 3/3/10

The Company: A fulfillment facility for household, personal care, health and beauty aid products located in Chicago, IL. The owners and management team purchased the company over a year ago with venture capital and a factoring facility. Approximately 80% of the company's business is concentrated with two customers.

The Issue: As the company has continued to grow, they exceeded their funding capacity under their current factoring relationship and consequently, were looking for a new funding partner who could accept the debtor concentrations and would be willing to grow with them.

The Solution: This company came directly to Allied through Joel Flig. We were able to offer them a larger credit line with higher limits for their account debtors. The company terminated their existing factoring relationship and paid the necessary penalties to move their business to Allied.

The Win: With the funding provided by Allied, the company now has the additional working capital they need to better operate and manage their business needs.

Allied Announces Second Funding for March

Facility Amount: $350,000

Date Funded: 3/5/10

The Company: An industrial cleaning service for plants and refinery equipment located in Pasadena, TX. The company's customers need their equipment cleaned when changing out the products they are processing through the lines (i.e., powder products then liquid soap products).

The Issue: The company recently received additional growth opportunities with their customer base which exceeded the availability under their bank line of credit.

The Solution: A broker in Houston referred the company to Allied. We were able to offer them a larger credit line with more flexibility to accommodate their impending growth.

The Win: The funding provided by Allied allows the company to take on additional contracts, enabling them to continue to grow their business.