Allied Affiliated Funding Provides $150,000 in Invoice Factoring to Spray Insulation for Home Builders
Date Funded: 7/31/2019
Facility Amount: $150,000
The Company: This Texas-based, start-up company builds and refurbishes oilfield equipment related to pumps, accumulators, and transmission repair/rebuilds.
The Challenge: This business owner had built strong industry relationships over the years and had an opportunity to launch his own company. He was able to obtain new business and started receiving work, but he needed the working capital for parts and labor. Without any operating history, a traditional bank line was not an option yet.
The Solution: The company contacted Allied to help with their funding needs. Allied was quickly able to put a line in place so this new entrepreneur could take on orders and grow.
The Win: This Funding by Allied helped someone start their first business becoming an entrepreneur and giving them the growth capital needed to succeed.