After starting a new company, this creator of lady’s handbags designed to carry concealed weapons decided to target large retail chains and quickly realized success. Knowing that working capital would be crucial to fulfill orders and to keep vendors satisfied, management set its sights on obtaining a line of credit. Management’s request was repeatedly shot down by several banks. Fortunately, a sharp banker referred management to Allied Financial. We quickly hit the mark by providing a $100,000 line of credit, and the referring bank picked up the new depository relationship!
Through common ownership of another company, management for this importer of raw materials used in the food industry was already familiar with Allied Financial having successfully worked with us before. When management approached us with a request for a line of credit for the newly formed company, we quickly served up the right recipe by providing a $600,000 working capital line of credit.