Date Funded: 3/1/17
Facility Amount: $1,500,000
The Company: This Texas-based company is a digital marketing consultant for mid-size to large corporations.
The Issue: This company is actually a returning Allied client. They were originally with Allied for about a year before graduating to a traditional bank line of credit. Over the last year, the company lost a key customer, their sales declined, and the company experienced losses. Because of this, the bank could not renew their line of credit.
The Solution: The bank referred the company back to Allied until they can once again become bankable. The current losses in the business combined with progressive billings created a hurdle in structuring the credit facility. However, the Allied team worked together to create a solution that would help the company get funded quickly. The bank will also participate in the line with Allied so that they can keep a close relationship with the company while staying abreast of the company’s financial and operating performance.
The Win: This Funding By Allied will help this company rebuild their business from unexpected losses and allow Allied to be their financial bridge back to the bank. This funding also helped one of Allied’s close bank partners assist their client.