Facility Amount: $300,000
The Company: This Colorado-based directional drilling and boring company is primarily focused on servicing the underground utility construction market in the regional Denver area.
The Issue: This start-up company 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 Solution: 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.
The Win: This Funding By Allied helped the company gain access to necessary working capital for their growing business while also giving them the funding needed to make payroll without worry.