Allied Affiliated Funding announced the following recently closed transactions:

• $1.5 million accounts receivable facility to a field examination solutions company servicing the oil and gas industry. Services include various radiography, ultrasonic testing, welding inspections and more. Their long term bank factoring division asked the company to find another financing source because of additional bank-wide scrutiny in the oil and gas market combined with a growing tax liability at the company. Allied agreed to work with the company on their payroll taxes and refinance the existing factoring line. This funding by Allied has enabled the company to quickly exit their current factoring relationship without having to worry about ongoing working capital needs. Allied was able to provide this company with a fast funding solution when few options were available to them given their large tax liability and exposure to the oil and gas industry. With a new funding solution in place, the company will now be able to endure until the oil and gas market improves.
• $250,000 accounts receivable facility to a consulting firm focused on B2B collaboration, providing managed integration services and software development and automating business processes to enhance collaboration and visibility among global trading partners. The company had maximized their bank line of credit, even though their receivables continued to grow. Being fully funded on their line but tight on cash flow, the business was experiencing a temporary financial hurdle and needed additional funds to cover payroll and other operating expenses. Allied agreed to provide a “spot financing” facility behind their bank line. This funding by Allied enabled the company to cover their cash flow needs and payroll without the stress of waiting on customer payments to arrive while their existing bank takes time to increase their line of credit. Within three days, Allied was able to provide a fast funding solution.

Headquartered in Dallas, Texas for the past 22 years, Allied provides creative, flexible, and fast factoring and asset-based lending services to a wide array of industries. Allied's clients include commercial businesses with commercial accounts receivable that are seeking working capital but do not qualify for traditional bank financing. Additional offices are located in New York and Florida.