Alantes Corporate Finance secured a $250,000 accounts receivable line of credit and a $400,000 term loan for Triangle Corporate Coach.
Founded by Travis Brisbon six years ago and based in Durham, NC, TCC prides itself on satisfying the customer’s overall experience when leveraging chauffeured transportation services, including corporate chauffeured cars, chartered buses and limos for weddings and/or parties.
As is the case with many small businesses, company growth was often coupled with the risk of expensive debt or giving away ownership of the company and funds were not always readily available for expansion efforts. Triangle Corporate Coach had been riddled with expensive debt and needed capital to replace the pricier funds with a more sustainable facility. The success and growth of TCC also required that the company secure funds in order to fulfill the increased demand for their services in the area.
Alantes secured a $250,000 accounts receivable line of credit in addition to a $400,000 term loan for TCC, allowing the company to refinance some previously existing and expensive debt on the books. In addition, TCC was able to use the additional working capital to purchase new vehicles to expand its existing fleet. The company now has a lower cost financing product that allows them to grow with a strong lending partner that understands the nuances of the business and is able to grow as TCC grows.
“Alantes was instrumental in helping us secure this financing for us,” said Brisbon. “The process can be painful and arduous sometimes, but the team at Alantes really went out of their way to make sure it was a seamless process and prioritized our business’ needs first.”
Alantes Corporate Finance specializes in capital raises and strategic advisory for small to middle market businesses across the nation.
