This IT Consulting company was beginning to experience high speed growth but had yet to turn a profit. Management approached the company’s banker to request a line of credit but was met with static due to the past losses and the very poor personal credit of one of the guarantors. The banker knew that the best option for this supercharged company was an introduction to Allied Financial whom he had worked with successfully many times in the past. With payroll quickly approaching, time was of the essence. Allied met with management and liked everything that we heard. We were able to hook the company up with a $500,000 line of credit in less than a week which debugged management’s concerns about missing payroll as well as concerns about short-circuiting the company’s growth. The bank maintained the existing banking relationship with the client and continued to provide all of the right networks as a full service provider by linking management with Allied.
This distributor of marble had not quite been in business for a full year but was really beginning to shine as an evolving player in the marketplace; however, the company was starting to lose some of its luster as it was passing up on orders due to a lack of cash flow. The company’s banker was not able to gloss over the early financial struggles this growing company was facing. Not wanting to put a crack in the company’s future, the banker immediately called his friends at Allied for assistance. Allied was quick to comply with the request for a $200,000 working capital facility which included an inventory component to keep this company beaming. The banker, the entrepreneur and Allied were all happy and ready to build a rock solid relationship!