Date Funded: 1/3/18
Facility Amount: $500,000
The Company: This is a Georgia-based distributor of drug resistant screening and sequencing kits for the effective treatment of infectious diseases.
The Issue: Although originally founded in 2015, this company is being relaunched and is in need of a line of credit over and above the funds they have raised to build the business. This posed a hurdle in the company securing a line of credit, as they had a limited operating history. The company is also experiencing rapid growth, receiving a large order from a foreign distributor and more orders pending for this customer and other domestic entities.
The Solution: The company was referred to Allied, and their challenges were easily solved since Allied helps companies in various phases of their growth, including start-up funding. Allied was able to set up a $500,000 line of credit for both domestic and foreign receivables.
The Win: With this Funding By Allied, the company can relaunch, have access to capital and gain the momentum to grow.