Facility Amount: $5,000,000
The Company: This Louisiana-based company offers various services for the oil and gas industry including new pipeline construction, fabrication and welding, and other construction related services.
The Issue: The company experienced losses the past few years, while also having to spend additional funds on equipment to gear up for new jobs. With the losses and the recent growth, the company needed a larger line of credit than their traditional bank line would allow, especially given a new concentration with one customer combined with the milestone billing nature of their business.
The Solution: The company’s CPA introduced them to Allied, who was able to structure an accounts receivable facility to accommodate their growth without having to worry about concentrations and progress or milestone billings.
The Win: This Funding By Allied will give the company the working capital they need to continue to grow their business.