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

The company provided $1,500,000 in Receivables Financing to a Texas-based printing company that has been in business for over 50 years providing sheet-fed, digital, wide format printing for their customers. The company had been working with another factor for the past year but experienced a few bumps internally with their billing processes, personnel and overcoming financial hurdles. Because of these challenges, they were dissatisfied with their factoring relationship. Their banker referred them to Allied to establish a new financing relationship with greater funding availability to run the business, especially during their busiest season. Allied was able to quickly provide the company a $1,500,000 credit facility. This funding by Allied gave the company the capital needed to refinance their current factoring obligations while also providing flexibility and sufficient financing as they head into their busy season.

Separately, Allied Affiliated Funding closed $300,000 in Receivables Financing to a recently formed Colorado-based construction company providing directional drilling and boring services to the underground utility construction market. This start-up business signed a new contract with a large electrical company. This caused an immediate, accelerated amount of growth for this new business triggering the need for a working capital partner who could meet their financial needs quickly and who wouldn’t require a long term operating history. They also needed to meet payroll that coming week. The company’s equipment lender referred them to Allied, and Allied was able to complete all due diligence, finalize closing documents, and fund in less than one week. Believing in solutions and knowing the tight timeline, Allied worked diligently to ensure the company could meet their payroll obligations on time and without stress. This funding by Allied helped this company gain access to necessary working capital for their growing business while also giving them the funding needed to make payroll without worry.