Allied Affiliated Funding Provides $1,250,000 in Invoice Factoring to Ohio Oil & Gas Sand Distributor
Date Funded: 3/12/2019
Facility Amount: $1,250,000
The Company: This Ohio-based company is a woman-owned startup company that provides frac sand and last mile logistics to the oil and gas industry, serving the Utica and Marcellus Shale area.
The Issue: Having prior experience and relationships in the industry, the owners started this oil services business together and quickly received their first sale to a large, publicly traded company. This created a cash flow need to fulfill this new order.
The Solution: The company was referred to Allied by an existing client. Allied was able to set up a financing facility in a few days to help this start-up company accept their first of many new orders launching their new business.
The Win: This Funding By Allied will help this start-up entity take on new business and grow the company.