Date Funded: 10/13/17
Facility Amount: $3,000,000 plus a $300,000 seasonal equipment line of credit
The Company: This California company is a cold storage warehousing and fulfillment company for the wine industry. They are an affiliate of one of Allied’s existing clients.
The Issue: With impending growth and in gearing up for their ‘crush’ season, the company needed access to additional working capital.
The Solution: The existing client approached Allied to add on their warehouse entity. Eager to help an existing client meet their growth needs quickly, Allied set up a line of credit in less than a week.
The Win: This Funding By Allied enabled an existing client to have access to even more capital for their seasonal business and growth. Allied also provided a $300,000 seasonal line of credit collateralized by equipment for the group of companies to utilize during this period as well.