Allied Affiliated Funding provided $6.25 million to a Texas-based oil and gas services company, which offers pipeline construction and rehab, coating and removal, and facilities services.

The funding consisted of $5 million in accounts receivable funding, a $1 million real estate loan and a $250,000 line of credit.

The company had a traditional bank line of credit along with equipment loans. With the downturn in the energy market, the company experienced operating losses causing the bank to be unable to renew its line of credit. The company tried to refinance through a different local bank, but the timing was just too soon. The new banker, however, referred the company to Allied in hopes of transitioning its line to the bank within the next year. Allied was able to get the bank refinanced in time for year end.