Allied Affiliated Funding Announces Closed Transactions

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 Texas-based trucking company that hauls frac sand, along with cement, fly ash and other non-hazardous dry bulk commodities for the oil and gas markets.  With their existing factor exiting the industry, the company needed a new factoring partner. The company chose Allied because of the funding speed to fund within one week, while also gaining more immediate access to online reporting to view payments and quickly and easily identify their fees. This Funding By Allied is helping a family owned business by allowing them to have the working capital to accept new and much larger orders to help them grow.

$300,000 in Receivables Financing to a Texas-based boutique staffing company that provides temporary and permanent placement receivables, focusing on IT, finance and accounting, HR and office support roles. As a new company, the owners were seeking a factoring partner that would help them as they launched and continued to build customers and grow. The company had been working with another factoring company, but after several weeks to obtain approval and an unwillingness to change their closing documents or funding processes to meet the needs of the company, the owners were then referred to Allied by their attorney. Within two weeks, Allied was able to approve, negotiate documents and fund the company, giving them the flexibility and funding they needed to focus on growing their business.

ABOUT ALLIED AFFILIATED FUNDING

Allied Affiliated Funding, a division of Axiom Bank, N.A., specializes in factoring and ledgered 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.