Allied Affiliated Funding announced the following recently closed transactions:
 
$5 million accounts receivable facility to a healthcare staffing company focused on providing international students with educational opportunities working in hospitals in the United States. The owners had raised over $1mm to launch the business initially, and they needed additional working capital for payroll and other obligations. Under their first large hospital contract working with a local university, Allied was able to help by providing a line that would allow the company to grow.

$2.5 million accounts receivable facility and a $150,000 line of credit to a manufacturer of men’s and boy’s suits and accessories. The company is a returning Allied client who left for a more traditional bank loan back in 2014. The nature of the company's structure required Allied to create an extremely customized funding solution, including a tiered rate structure based on volume, a higher advance rate, net funds employed pricing so they only paid for what they used, eligibility on foreign accounts receivable, and an extended aging limit in addition to a line of credit for $150,000. The funding by Allied provided the owner of the business the ability to refinance his bank line of credit and obtain even more capital to grow into 2017 with new customers and orders.

$2 million accounts receivable facility to a company that designs and sells wireless speakers intended for the outdoors and rough use. This company had successfully conducted business with major retailers around the world and received an opportunity to take on an almost $3 million purchase order for a new customer to develop and sell a new product for the holiday season. However, in order to fulfill their customer’s order, they needed a creative and flexible financing partner who would be able to quickly fund the receivables despite the additional risk of selling a new product in the market for this large national retailer. The funding by Allied gave the company the capital they needed to grow their business and launch a new product into the market.

$350,000 accounts receivable facility to a well completion and maintenance services company. After an affiliate company successfully sought services with Allied for a similar type of receivables line, the company accountant urged the owners to expand the use of Allied’s funding and services to their sister company. The challenge included a non-notification component to the transaction for their largest customer. Allied was able to structure a solution for these business owners providing working capital to the company without having to disrupt their customer relationship. They could continue to focus on their business while weathering the oil and gas storm.

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.