Asset Based Lending Success Story

TDP, LLC

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TDP, LLC specializes in large scale, mission critical program management, while excelling in creating customized instruction and highly specialized training for on-line, classroom delivery, and off-the-shelf training solutions.

Owner, Carolyn Walker, found that waiting 30, 60, or 90 days for payment on receivables from the federal government and her Fortune 500 clients was a challenge that she couldn’t face on her own. “The major challenge prompting our need to finance was the competitive win of our largest contract, supporting the U.S. Census Bureau,” says Walker. “This win would require TDP to ramp up from 7 employees to 33 over an 18 month period. Of course, this represented a significant increase in our payroll. Although we had a signed contract in hand, we were not embraced by traditional lenders in this economy.” Serving as the prime contractor on this project required TDP to increase its payroll by 471%.

Walker was then introduced to FSC First, a non-traditional lender whose mission is to provide small- and minority-owned businesses access to creative, flexible, and innovate financial solutions for their operations. “The FSC First team provided a fair evaluation of TDP’s viability and qualification for the program. While adhering to standard banking business practices, there were no “extra hoops” to prove that TDP is a viable growing business. The team treated TDP as a valued customer, rather than “just a small business who needed a favor,” says Walker.

FSC First was able to provide TDP with an Asset Based Lending (ABL) facility of $250,000 and was able to secure the asset-based lending line of credit with an assignment against the proceeds of the contract.

For Walker, selling daily receivables to FSC First under the Asset Based Lending program made all the difference for her business. “The ABL program has allowed TDP to finance the payroll required to perform on a $2.8M contract, build significant past performance and reputation as a small business with the capacity to deliver large complex programs.”

DetailsPrint This Post

Client’s Name
TDP, LLC
Loan Program
Small Business Growth Fund
Contact Information
301.383.1759
Client Site
tdpsvs.com

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