Challenge: A group of engineering executives saw an opportunity in the market to start a new company that could fill a void in the marketplace. They founded Arion Blue, a full-service, multi-discipline engineering and design firm serving the Oil & Gas industry. The team invested substantially in the business, however, based on the projected revenue and their projected payroll, they sought out a bank line of credit to assist with their working capital needs. Unfortunately, the bank was unable to offer them a traditional line of credit because it was a brand new company.
Funded: The banker they contacted looked at their opportunity and while he couldn’t offer them financing, he knew they would be a great fit for Catalyst. Through the referral, we were able to put in place a factoring facility that allowed them the working capital they needed. It’s been a great partnership and Arion Blue is thriving.