After many years of working for someone else as a distributor of water pumps, this entrepreneur decided that the pump was primed to start his own company. With his excellent reputation in the industry, customers began to pour in. However, cash flow quickly became an issue. The company’s banker, having worked with Allied in the past, made the connection to Allied. We approved the request for a $300,000 working capital facility at our initial meeting. The referring banker earned the depository relationship!
As its practice continued to grow, this local law firm approached its bank for a working capital line of credit. Unfortunately, the verdict from the bank was unfavorable, but the banker judged the credit to be a good fit for Allied Financial and made a motion for the owner to call us. With a bang of the gavel, we quickly approved a $100,000 line of credit and the banker retained the remainder of the banking relationship!