This long-time engineering firm was not immune to the pressures of the pandemic. Specializing in engineering work for municipalities, the owners watched as contract after contract went on life support – causing losses in 2020 and 2021.
Not only has business returned to normal, the company’s pipeline has exploded due to the fact that many of the work orders are federally mandated and must be completed within a certain time frame, so time is of the essence.
Knowing that her company needed a cure for its cash flow ills, the owner sought out traditional bank financing. The recent losses were problematic; however, a wise banker recommended a check-up with Allied Financial. We worked quickly to cut through the red tape and offered a $500,000 working line of credit at our very first meeting. The owner was ecstatic and relieved; the referring banker was thrilled to pick up the remainder of the relationship; and Allied was delighted to have a great new Borrower! Another Win, Win, Win!
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