$3M Funding Injection Saves Payroll for Texas Energy Provider
Funding Received:
$3 Million
The Challenge
The California-based Phoenix Footwear Group has run a highly successful business, manufacturing and supplying women’s fashion footwear lines. When systemic industry delays hit along with the slowdown in business, the company realized relying solely on the 30-year-old business model parameters and manufacturing was no longer sustainable. Joined by Alterna Capital Solutions team, Phoenix CEO and CFO searched for a custom structure to maximize access to capital, optimize vendor payables, and provide cash flow stability.
Our Solution
2020 was the beginning of Alterna’s relationship with PFG. Our familiarity of the industry helped us waive the field exam and personal guarantee requirement to quickly arrive at an ABL facility of $2.5 million supported by a co-lending agreement with an inventory financing partner. In 2022, with his plan working, Riedman shared a desire to lower PFG’s capital costs and still access more working capital to support growth. In collaboration with the inventory finance partner, we designed a structure that brought inventory finance over to Alterna, improved the borrowing base with an increased credit facility, and offered more competitive rates in support of PFG’s growth plans.
Measured Results
Funded in Time
Client was funded in time for payroll
$20MM Win
Client won a $20MM project, generating an additional $1MM in invoices
Hiring for Growth
With available funds, client is able to interview and hiring for growth
Close Management
Alterna works closely to manage invoices and field-level verification ahead of a payroll cash crunch
Partner with Alterna
If your business needs faster, more flexible access to working capital, Alterna is ready to be the partner behind your next move.
