Hedaya Capital is pleased to announce a factoring facility for a Canadian oil and gas pipeline services company projecting CAD $20,000,000 in revenue for 2022. The $2,000,000 facility allows for advances of up to 80% against accounts receivable.

 

 The company performs testing and inspections on welded joints on the construction of new oil and gas pipelines. The client is located in Edmonton, Alberta and is an affiliate of a Texas based firm with branch offices in Katy Texas, Aberdeen U.K., and Edmonton.    

The company needed working capital to upgrade and repair equipment and to support its expanding payroll.  The parent company’s existing U.S. based ABL lender could not provide funding to the Canadian branch since they only lend in the U.S. 

With the help of our Canada advisor Yoni Petel of McMillan LLP we were able to complete our due diligence and document the facility within a month.  We are proud to have set up a facility to factor the Canadian receivables, fund the client in Canadian Dollars and collect payments from the client’s Canadian customers.  With this new platform we look forward to providing factoring and other financial services to more Canada based businesses. 

Since 2003, Hedaya Capital Group, Inc. has been providing entrepreneurs with working capital solutions to help grow and protect their businesses. We help businesses grow with our 360° approach, all factors surrounding our client’s business matter. We treat clients with time-tested old school values and offer new school thinking. To learn more, please visit us at: www.hedayacapital.com