Our History
25+ years of finance experience helping companies grow their business
Funding Solutions

We’re Entrepreneurs. Helping our clients grow their business is our passion!

In the Beginning

We believe in building partnerships. It is one of the foundations of our business. That and keeping things simple so we can move quickly to help business owners grow.

As a serial entrepreneur, our founder had first hand experience with the difficulties caused by challenging cash flow cycles. That combined with a true desire to make understanding financing costs easy to calculate were the drivers in launching an accounts receivable finance company in 1992. He would provide access to working capital through offering creative and cost effective financing solutions. That was the beginning of Allied Affiliated Funding, L.P.

Clay operated under a guiding principle, to treat the relationship between his company and his customers as a partnership and be open in the information provided to his customers to make things easy to understand. He positioned his company to act as a financial ally and proceeded with a mandate to provide unparalleled, personalized customer service.

In the beginning, as many entrepreneurs, Clay worked by himself to attract clients, structure solutions, process fundings, manage accounting and pretty much everything in between. He operated from a single desk in a small office. By the end of that first year, Allied added another employee and began to grow even more from there. Clay focused on building his company one relationship at a time. And, as other start up business owners before, he made it through all the growing pains along the way.

Recent History

As a solutions driven company, Allied was devoted to creating creative transaction structures that made sense for each client. In some cases, however, there were times that Allied was not able to help the client fully to get the working capital they needed. This created a challenge to helping these business owners.

In 2007, Clay decided to form AllCap Participation Fund. He wanted to figure out another way to help finance these businesses, so he created AllCap to act as a participation fund essentially helping fund the companies that Allied could not in certain situations. He used this as a vehicle to provide certain companies an enhanced solution, either by funding the company itself or in a separate structure alongside an Allied facility. Problem solved.

By 2018, Allied had grown to over $500 million in annual purchases. Axiom Bank, N.A. acquired Allied in July 2018. With the resources of a bank supporting Allied’s continued growth, even more U.S. based small businesses will have access to a financing bridge so that they too can thrive.


AllCap Participation Fund continues our relationship based activities as a privately held company with our key executives running and growing the business, just as we always have. We’re still going to be that resource for Allied and others, when there is a need for an additional working capital solution. We’ll still do what we’ve always done – find a solution and fund it ourselves when it makes sense.

We simply can’t stop our entrepreneurial drive and focus and intend to stay true to our roots by coming up with innovative solutions for the right opportunities. 

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