Date Funded: 6/16/17
Facility Amount: $7,500,000
The Company: This Texas-based telecom company provides turnkey broadband solutions for large cable companies and other related industries, specializing in engineering, construction, installation, maintenance and staffing.
The Issue: This company had recently been financed by another factoring company. Their financing contract was coming up for renewal at the same time they were looking to sell the business. Management didn’t want to get ‘stuck’ in a long term contract if they only needed 30 days or less of funding. They simply needed a quick bridge to take them through to completion of the sale of the business, and they needed it approved and funded in under a week.
The Solution: With only one week before their auto renewal with their prior factor, the company reached out to Allied for help. Once again, the Allied team came through, and in only a few days, Allied was able to complete due diligence, close and fund this transaction, meeting the company’s timeline.
The Win: This Funding By Allied quickly helped a company with an urgent need, even if only for a short period of time.