This business software company specializing in lead generation had taken a wrong turn with its existing bank and was asked to exit the bank. In its search for a new lender, the owners traveled down several promising paths with prospective asset-based lenders – all of whom were promising a green-light approval. Eventually, the search led the owners to Allied Financial. Seeing that the new management team was headed in the right direction, we proposed a $1,000,000 working capital line of credit on the spot – leaving the other prospective lenders behind. The bank was made 100% whole on its outstanding balance and the company had the thumbs up to grow its business with the additional working capital.
Choosing the Right Financial Partner
Having been in business for over two decades, this factoring company was caught short-handed when its lender was acquired and asked the company to find a new source of financing. Having years of experience lending money, the owner knew which questions to ask to find the right financial partner. We reviewed the company’s portfolio and found sound lending principles which allowed us to offer a $1,000,000 line of credit, and we closed and funded in time to meet everyone’s deadline!