Growing quickly, management of this startup cell tower service company realized that a line of credit was needed. Uneasy about alternative lending options, one of the owners connected with a personal friend for advice. Coincidentally, the friend happened to be a current client and willingly shared his static free experience with us to his friend. In our meeting the next day, we heard management’s needs loud and clear and proposed a $1,000,000 working capital facility. With its cash flow concerns behind it now, management can reach for the sky with the aggressive goals set for 2015.
Having knowledge of the commercial lighting industry, this experienced executive had a bright idea to purchase this struggling distributor of lighting products knowing that he had the ability to flip the switch and turn the company around. Challenging financial statements made finding traditional working capital difficult. Instead of shocking the entrepreneur with another turn down, a wise regional business banker offered the electrifying alternative of Allied Financial. Allied was able to put a spark back into the company by providing a $500,000 revolving line of credit. The executive was thrilled with the outcome and the banker earned the remainder of the banking relationship just by taking the time to listen and make the appropriate introduction.