Allied Affiliated Funding, a division of Axiom Bank, N.A. announced the following recently closed transactions: 

$2,250,000 accounts receivable and term loan facility to a Texas-based telecommunication company providing staffing, design, testing, installation, and optimization of equipment and networks for well-established customers. This entrepreneur owned the business since 2011, expanding and growing the company over that time period. He also started several other ventures in the last few years moving his focus to those new entities. Without his full attention on this business, the billing procedures in the company declined over the past year and issues arose in collecting funds. This caused unpaid invoices that also resulted in financial losses, ultimately impacting the company’s ability to finance new invoices going forward with their current factor. Although the owner re-engaged in the day-to-day operations and corrected the billing challenges, the company’s ability to fully access their working capital during this critical time created a need for a new financing partner. The owner, who had previously worked with Allied on some of his other businesses, contacted Allied to help. The owner and Allied diligently worked through the billing history and concerns and put additional protocols in place to mitigate this risk in the future. By getting more engaged in the business to correct the billing challenges and in working with Allied to come up with a financing solution that would ensure invoices were billed correctly, the company was able to refinance their current factoring obligations, gain access to working capital from their new invoices and receive a $250,000 term loan to help with their cash flow.

$780,000 accounts receivable facility to a California-based company providing fire sprinkler design and installation primarily to new multi-family residential construction projects. The owners bought the company in 2015 through an SBA loan and then later added on an accounts receivable financing facility in early 2017 to help with their growth. Their existing factoring company was unable to finance construction type receivables going forward and asked the owners to find another financial partner. The owners were going to have to find a new factor and work through refinancing their primary working capital provider while trying to run their business. Referred to Allied, the company immediately contacted us to refinance their existing receivables facility and provide ongoing working capital. They wanted to make the move quickly so they could get back to focusing on their business. Within about a week, Allied was able to complete due diligence, finalize closing documents and provide fast funding to the business. This Funding By Allied gave the company the money they needed without the strain of working through weeks of finding a new partner to help them. Allied’s responsiveness won the deal and won their business.