Allied Affiliated Funding, a division of Axiom Bank, N.A. Announces Closed Transactions

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

$600,000 in receivables financing to a Texas-based company specializing in the recycle, repair, and resale of previously used electronics to wholesale and e-commerce customers. The company had sustained losses historically and was self-financing their business to maintain their working capital needs. With new customers and orders, this company needed a financing partner who could fund their existing business and provide room for growth with added business. Their former banker referred the owners to Allied to help them set up a factoring facility quickly, so the company could continue work on their new and ongoing orders. This Funding by Allied is helping this business have ongoing working capital to meet their working capital needs, with sufficient funding to take on new business and grow.

$1,500,000 in receivables financing to a Texas-based company providing inspection services for pipeline/rigs and consulting and training services to the oil and gas industry. The company had losses in the past few years and had taken on expensive cash advances to get through these cash struggles. Additionally, they were with a high rate factoring company. As the company turned the business around over the past year and continued to pay down their cash advances, they wanted to find a receivables financing partner that could reduce their cost and meet their working capital needs. The company was referred to Allied to help them set up a new factoring facility. Allied created a funding structure that paid down some of the cash advance debt while also providing a more competitive pricing structure that matched the company’s improved performance through their turnaround. This Funding by Allied helped the company continue to reduce their costs and give them a factoring facility that would work with their funding needs.

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.

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