A change of ownership for this manufacturer of electronic components resulted in static as new management searched for a lender. Having worked with Allied before, the company’s banker was on the right wave length and made an introduction to Allied Financial. Our quick response with a $1,200,000 working capital line of credit eliminated the interference the company had been receiving from vendors, clearing the way for a strong pipeline! The banker was thrilled to keep the depository relationship, and the borrower was excited to be able to focus on his business.
Putting Payroll Concerns in Sleep Mode
Growing at a high speed, the owner of this IT consulting company was concerned about the ability to meet payroll. Having been in business for less than one year and lacking reliable financial statements, the company’s banker was not able to approve a loan request. He did the next best thing by conferencing in Pete Maglione, SVP at Allied Financial, while his customer was still in his office. Pete listened to the situation and realized that timing was crucial. We met with management the next day and approved a $250,000 line of credit at our meeting. The banker was thrilled to keep the banking relationship and to help put the owner’s payroll concerns into sleep mode. Another winning transaction!
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We finance SERVICE COMPANIES, MANUFACTURERS, DISTRIBUTORS, AND CONTRACTORS.
CREDIT LINES FROM $25,000 TO $2,000,000 FOR ALL TYPES OF COMPANIES.