Metal Stripping Company



This family-owned business provides metal stripping, paint and rust removal as well as general fabrication for a variety of companies throughout the eastern United States.  Historically profitable with very little debt, the company hit a roadblock resulting from unexpected additional payroll expense needed to complete a job for a key customer.  Unable to add temporary personnel, the company was forced to use their existing workforce at overtime rates to complete the job on time.  With the additional expense, the company reported a net loss for the first time and payables became extended.  Their banker was unable to provide a working capital line of credit due to the negative trends but introduced Magnolia Financial as an interim solution.


Within 24 hours of the introduction, Magnolia met with the client and toured their facility.  Impressed with the management and their operation, Magnolia extended the company a $350,000 Accounts Receivable Line of Credit the following day.  By the end of the week, Magnolia funded the company so they could immediately bring all Accounts Payable current.  The company now has the working capital needed to focus on operations rather than worrying about cash flow and past due suppliers.  They are now back on track thanks to the workig capital provided by Magnolia Financial.


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What our Clients Say

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

"Available when we needed them"

""Magnolia was really available when we needed them, and the leadership at Magnolia was empathetic to the cold, harsh nature of traditional banking. It gave us a tremendous amount of comfort during a difficult time. Marc Smith and his team really understood where we were, where we were going and gave us the help we needed to get there.""

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