Allied Affiliated Funding Announces Closed Transaction

Allied Affiliated Funding, a division of Axiom Bank, N.A. is pleased to announce the following recently closed transactions:

• $1,500,000 in receivables financing to a Florida-based company that has been in business for over a decade, designing and assembling communication systems for the government and large, commercial companies. Specializing in the development of mobile ground terminal satellite communications solutions, they have built a reputation of effectively executing projects for the military. The company received a $6 million purchase order to implement and fulfill a new project over the next several months. With the 100% customer concentration combined with the new growth capital needed, they were not able to obtain a traditional bank line of credit yet that would also meet the working capital requirements for the job. The owners were introduced to Allied to help create a funding structure that provided the financing needed while also giving them flexibility, so the company could choose which invoices they wanted to finance without being required to finance all of their invoices. Allied was also able to help save the company money on their banking fees and more.  This Funding by Allied helped a company accept a new large order for a long term, existing customer so they would know they could deliver without any bumps along the way. These new funds gave the business the growth capital needed to continue to expand into the future and succeed.

• $150,000 in receivables financing to a Texas-based, start-up company that builds and refurbishes oilfield equipment related to pumps, accumulators, and transmission repair/rebuilds. This business owner had built strong industry relationships over the years and had an opportunity to launch his own company. He was able to obtain new business and started receiving work, but he needed the working capital for parts and labor. Without any operating history, a traditional bank line was not an option yet. The company contacted Allied to help with their funding needs. Allied was quickly able to put a line in place so this new entrepreneur could take on orders and grow. This Funding by Allied helped someone start their first business becoming an entrepreneur and giving them the growth capital needed to succeed.

About Allied Affiliated Funding

Allied Affiliated Funding, a division of Axiom Bank, N.A., specializes in factoring and asset-based lending, providing credit facilities including accounts receivable financing, inventory, equipment, real estate and term loans. Allied Affiliated Funding partners with bankers, business brokers and other referral sources to create a win-win situation for customers. With over 27 years in business, Allied is one of the most highly respected, longest-tenured, factoring companies in the industry. Axiom Bank N.A., a nationally chartered bank headquartered in Orlando, Florida, serves the financial needs of its customers through a wide range of banking solutions and a commitment to exceptional service. The bank has a rich history dating back to 1963. By definition, “axiom” means “a universally recognized truth” – the name exemplifies the bank’s principles of truth, trust, value, convenience, and service excellence. Axiom Bank holds the SBA Preferred Lender status and specializes in commercial loans, treasury management and other merchant services. Axiom is constantly working to expand its services and products and provides consumer banking through 21 branches to conveniently serve local communities.

For more information about Allied, visit our website at www.FundingByAllied.com.

Gen Merritt-Parikh, CAEF
President, Allied Affiliated Funding
Axiom Bank Factoring & ABL
5151 Beltline Road, Suite 500, Dallas, TX 75254
Phone:  972-448-3524
Cell: 469-360-9712
Email: gmerritt@axiombanking.com
Web:  www.FundingByAllied.com