Facility Amount: $5,000,000
The Company: This Louisiana-based distribution company provides a variety of oilfield related services such as customized containment berms, 24 hour hot-shot delivery, vacuum truck hauling, frac-tanks, wash crews, and equipment rentals.
The Issue: This company was financed by another factor for the previous five years but was looking for a new factoring relationship to accommodate new customer contracts and growth, one that could also offer more competitive pricing.
The Solution: The company’s CPA referred this company to Allied to help them meet their evolving and growing financial needs, and Allied was able to provide a $5,000,000 credit facility at a much-reduced costs to the company.
The Win: This Funding By Allied will provide this company the more competitive rates they were looking for and the flexibility they need to grow.