Allied Affiliated Funding Provides $500,000 in Receivables Financing to Start-Up Staffing Company
Date Funded: 9/20/2019
Facility Amount: $500,000
The Company: This Texas-based company provides staffing services, primarily to the oil and gas industry.
The Challenge: To help start their business and take on new customers and orders, this staffing company needed a working capital line to be able to meet payroll while waiting for their customers to pay.
The Solution: After not being able to obtain financing through another lender they were familiar with already, the company was referred to Allied to help them set up a new factoring facility quickly, so the owners could meet payroll.
The Win: This Funding By Allied helped these new business owners start their first business and become entrepreneurs. They were able to accept orders with new customers and launch their business.