MONTEREY, Calif.--(BUSINESS WIRE)--Advanced Onion, Inc. (AO) received a $4 million channel finance line of credit from Wells Fargo Capital Finance to help meet the strategic needs of this rapidly expanding, premier technology solutions provider. With a growth rate of over 180% in 2015, AO continues to mature as a Service Disabled Veteran Owned Small Business (SDVOSB) and California certified Disabled Veteran Business Enterprise (CA DVBE) headquartered in Monterey, California.
“Advanced Onion is doing great things in the government space,” said Brett Zimmerman, Director of Business Development at Wells Fargo Capital Finance.
Advanced Onion specializes in systems integration, cyber security and personnel identity management. They deliver unique services to government and commercial customers with a focus on Federal, State and local governments, all in need of quick turnarounds for highly progressive projects.
Paul Temple, CEO of AO stated, “This credit facility provides AO with flexibility as well as autonomy to deal direct with manufacturers and distribution partners in order to achieve better terms.”
The Business Development executives at AO went on to explain that with financing already in place, it enables greater efficiencies in the procurement process. As a Value Added Reseller (VAR) in both Federal, as well as State, Local and Educational (SLED) arenas it allows AO to gain favorable payment terms with suppliers and original equipment manufacturers (OEMs). In the SLED space some suppliers don't use distributors and don't finance new partners, with nearly all transactions are well north of $1M, making this line of credit a notable asset to creating rapport with these organizations.
As AO pushes forward to remain on the forefront of cutting-edge technologies they feel privileged and honored by the level of support from Wells Fargo. Zimmerman goes on to say, “The [AO] management team is great to work with and very knowledgeable of the industry. Wells Fargo is really excited to further support the company’s business endeavors.”