Allied Affiliated Funding, a division of Axiom Bank, provided $3 million in receivables and inventory financing to an Illinois-based graphics company.
The client provides fleet graphics, decals and retail décor to large customers nationwide.
An existing client of Allied received an acquisition opportunity with an assignment for the benefit of creditors sale and was seeking financing for the purchase, along with ongoing working capital for their operations and growth. The auction timing was tight, and the company could not wait for more traditional bank financing. The owner contacted Allied to help with a fast funding solution that included a 90% advance on accounts receivables as well as a 50% advance on their inventory, which could be used to complete the purchase for this new business. This funding Allied helped this business owner get to the finish line quickly, giving assurances so they could bid at the auction and win the deal. He was able to acquire a new company and keep people employed, while also helping to grow the business further into the future.