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

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

$1,000,000 in receivables financing to a Texas-based company that provides commercial flooring to retailers, schools, senior living centers and other commercial projects. This relatively new business was being funded by their parent entity, unable to receive traditional bank financing directly due to their limited operating history and losses in getting the business launched. The company had started gaining more traction, increasing sales with larger projects but needed additional working capital to continue their growth. Their banker referred them to Allied, knowing that Allied could come up with creative structuring for their construction industry billing, which included progressive billings, while also providing funding at a competitive rate. The Funding by Allied took funding pressure off the parent entity while giving the company the working capital needed to continue accepting new, larger jobs, meeting payroll and material expense needs, and growing the business.

$400,000 in receivables financing to a Louisiana-based company that provides consultants for the oil and gas industry, primarily focused on water production and operations with well work and light roustabout services. Their consultants oversee their customers’ crews, which helps their customers better manage payroll and related costs. Most of their business is focused currently on natural gas wells. The company had recently moved to a lower cost factoring partner. However, with the onset of COVID-19 and the impact to the general oil and gas marketplace, their new factoring provider pulled their customer credit lines, as they were not as familiar with the energy industry overall. This caused an immediate cash impact to the business by not having sufficient funding for their largest customer. Allied had experience in the industry and with their largest customer. Therefore, that customer referred the company to Allied to help. The Funding by Allied gave the company the credit limits they needed during a difficult time in the industry to support their working capital needs so they could cover their payroll and contractors, keep their business going and save them financing fees in the process.

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 28 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 its Central Florida branch network.

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