Allied Affiliated Funding Provides $1,500,000 in Accounts Receivable Financing to a Communication Manufacturer
Date Funded: 7/31/2019
Facility Amount: $1,500,000
The Company: This Florida-based company has been in business for over a decade, designing and assembling communication systems for the government and large, commercial companies. Specializing in the development of mobile ground terminal satellite communications solutions, they have built a reputation of effectively executing projects for the military.
The Challenge: The company received a $6 million purchase order to implement and fulfill a new project over the next several months. With the 100% customer concentration combined with the new growth capital needed, they were not able to obtain a traditional bank line of credit yet that would also meet the working capital requirements for the job.
The Solution: The company was introduced to Allied to help create a funding structure that provided the financing needed while also giving the owners flexibility, so the company could choose which invoices they wanted to finance without being required to finance all of their invoices. Allied was also able to help save the company money on their banking fees and more.
The Win: This Funding by Allied helped a company accept a new large order for a long term, existing customer so they would know they could deliver without any bumps along the way. These new funds will give the business the growth capital needed to continue to expand into the future and succeed.