Allied Affiliated Funding announced the closure of three new transactions totalling $2,650,000:

• A $1,500,000 factoring facility to a digital marketing consultant for mid-size to large corporations. This company is a returning Allied client who had successfully grown into a bank line of credit several years ago. Over the last year, the company lost a key customer resulting in reduced sales and losses, causing them to fall out of compliance with their bank's financial covenants. The owner of the company approached Allied to refinance the bank debt. Though the company was under intense pressure due to staffing cuts and their approaching bank refinance deadline combined with the progressive and milestone billing that existed, the Allied team fulfilled their promise of rapid response times, ensuring no surprises throughout the financing process. This Funding by Allied gave the company a quick bank payoff prior to their deadline, while also providing additional capital for the business. The owners can now focus on running their business, rebuilding their sales to turn the company around and hopefully, becoming bankable again later this year. 

• A $1,000,000 factoring facility to a staffing company focused on overseas military support services. The owners were looking to finance their primary concentration customer because they were considering taking on more work from them. This new growth, combined with a complex billing system for this customer that delayed invoicing and ultimately payments, caused the company to need working capital to support their payroll and operating expenses. Allied was ready and willing to help. Though the staffing company was in mid-transition with their internal processes, Allied's experienced team was able to utilize their excellent customer service skills to fully understand the company's needs and limitations. Thanks to Allied’s flexibility and promise to be solution oriented, this company received a fast funding that will ease the stress of their quick growth challenges. This Funding by Allied gave the company the capital they needed quickly to allow their business to grow.

• A $150,000 factoring facility to a telecommunications subcontractor. Under Allied's Vendor Finance Program, Allied can fund these types of clients very quickly, within only a few days, including addressing the various hurdles that sometimes arise when working with telecom subcontractors. Allied's CEO once owned a company in this market, giving Allied specific expertise in the telecommunications industry. This specific subcontractor received a contract with a new customer but was still in the set up phase for payment, although they had already completed the work. Because of Allied’s unique relationship with their customer, Allied was able to get their customer to approve payment without the subcontractor being fully set up in their system, and they were also able to secure even more work from this customer. This Funding By Allied enabled the company to make payroll and meet other obligations while also servicing their customer under this new contract.