Custom Software Company



Founded in 2013, this innovative software company provides Software Delivery as a Service (SDaaS) to a variety of customers that prefer to outsource their customized software needs.  The company and its owners enjoyed a strong reputation in the industry for providing quality software on-time and within budget.  Historically profitable, the company hit a bump in the road when a newly established product launch was not as successful as planned.  As a result, the company reported a net loss for the year that eroded their equity position.  When their bank declined to renew the line of credit, the company began to look at Asset-Based Lending as an alternative funding source. 


Despite the significant loss the previous year, Magnolia was impressed by the strong management team and confident in their ability to return to profitability.  Within 48 hours of the initial meeting, Magnolia extended the company a $1,000,000 Revolving Asset-Based Line of Credit with no personal guarantees and no early termination penalties.  Magnolia’s relationship-based approach provided the company with the working capital they needed when they needed it.  The business is now projecting a profitable year and expects to return to traditional bank financing within 12-18 months. Neither would have been possible without the revolving line of credit provided by Magnolia Financial.


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Kerry Coker, KAMADO JOE

Kerry Coker, KAMADO JOE

"A Breath of Fresh Air"

"The Magnolia guys have a real ‘can do’ attitude. Marc Smith and his team are super responsive and upbeat. They can fund within a matter of days. They are always looking for positive opportunities for their clients. It's a breath of fresh air to work with someone like that."

Frank Workman, Dealers Supply & Lumber Company

Frank Workman, Dealers Supply & Lumber Company

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