When this wireless telecommunications company began experiencing high speed growth, management approached the company’s banker requesting to double the existing line of credit. The company’s extreme growth plan gave the banker some mixed signals causing the bank to decline the loan request. Having worked with Allied in the past, management knew that we were just a call or text away. After meeting with management and hearing about the tremendous growth opportunities, Allied sent forth a clear signal and put together a $2,000,000 working capital facility.
When the pipe line for this start up manufacturer of circuit boards started lighting up, management knew that the company needed a working capital line of credit to get through the surge in new business. The banker was electrified with the potential growth but turned down the loan request due to the length of time in business and lack of profitability. Fortunately, the banker turned management on to Allied Financial. Moving at the speed of light, we proposed a$150,000 line of credit at our first meeting. We began funding the company the following week, and the referring banker got a new depository relationship!