Allied Affiliated Funding closed two transactions totaling $3.3 million.

The company provided a $1 million accounts receivable facility to an economically disadvantaged woman-owned small business concern with roots dating back to 1917. The company is a non-manufacturing contractor specializing in security and lock related products and services, with a diverse portfolio of offerings and specialization as a wholesaler distributor.

Although the company had previously done small projects for both businesses and individuals, it was approved to enter the government bid space and is now venturing into larger projects. Allied helped facilitate the setup for the assignment of claims process with the company and provided the working capital needed to start these new jobs, allowing the company to take on larger orders and expand and diversify their business offerings.

Allied also provided a $3 million accounts receivable facility and a $300,000 seasonal equipment revolving line of credit to a California-based cold storage warehousing and fulfillment company for the wine industry. It is an affiliate of an existing client. With recent growth and a gear up for their “crush” season, it requested that Allied supplement its warehouse entity to gain access to additional working capital.