“AEC was uniquely positioned to help this client and we look forward to a long and prosperous relationship”
New York, NY (PRWEB) July 10, 2017
Founded in 2010, the Company, with their roots in construction, is now a leading provider and installer of residential and commercial solar systems. Without the need to rely on subcontractors, they have been providing clients with rapid and flexible renewable energy solutions.
Financed by a local bank and experiencing rapid growth, this west coast solar company was restricted by the cap on its bank line. It needed a financier who was willing to ‘bet on its success’ and would not inhibit its ability to meet the demand in the market. Further complicating the situation, their residential clients rely almost exclusively on third party financing which made it difficult to navigate the traditional factoring and asset based lending market.
After our review of the business, AEC provided the company with a $5 million factoring facility that covered their extensive and diverse debtor book consisting of a myriad of third party finance companies and thousands of consumers. A solution not generally available to businesses of this size. This enabled the client to both pay off their incumbent lender and use the additional availability to successfully meet the demand in the market.
“AEC quickly understood the nature of the business, its invoicing procedures and the need for additional availability under the facility. AEC was uniquely positioned to help this client and we look forward to a long and prosperous relationship," said Steven Feldman, Managing Director at AEC
AEC is a commercial finance company which provides working capital financing ranging from $500,000 to $10 million to small and middle market manufacturers, distributors, and service companies nationwide. Based in New York, AEC is committed to helping businesses increase their capacity for business transactions. AEC’s programs provide companies with capital in a fraction of the time it would take to process a loan through the bank and in many cases, provide significantly higher proceeds than the traditional factoring companies and asset based lenders.