Date Funded: 10/26/16
Facility Amount: $2,000,000
The Company: This California-based company designs wireless Bluetooth speakers for outdoor use and rough treatment, selling them to large national retailers worldwide.
The Issue: Recently, the company was able to develop a more customized, lower price product specifically designed for a major retailer who wanted to order almost $3 million in speakers. The company’s bank lender was not comfortable funding such a large order in such a short period of time, so the company had to move quickly to find a business cash flow solution that would ensure they could meet their working capital needs, pay their vendors and fulfill their commitments to this new customer.
The Solution: The company found Allied! Allied quickly evaluated the product costs, historical returns and prior product performance to creatively structure a deal that provided the company with the assurances needed to complete their customer commitments and fulfill these new orders.
The Win: Despite this deal’s complexity, Allied was able to find a fast funding solution for this company. Most importantly, Allied was able to help a business continue to grow by obtaining the capital they needed to take on a large, new purchase order from a major retailer.