Versant Funding LLC Funded $3 Million to a Supplier to the Oil and Gas Industry

Versant Funding LLC is pleased to announce it has funded a $3 million non-recourse factoring transaction to a supplier to the oil and gas industry.

Since the energy sector has rebounded from the impacts of the pandemic, this company has experienced increasing demand for their products. Meeting this demand from both new and existing customers is putting increasing strain on the company’s working capital position.

“Versant’s offering was an excellent match for this growing business in need of liquidity,“ according to Chris Lehnes, business development officer for Versant Funding, and originator of this financing opportunity. “Because we do not set caps on our factoring facilities, if our newest client continues to sell to strong customers in the oil and gas space, as their accounts receivable grow, so will their access to cash.”

About Versant Funding
Versant Funding's custom non-recourse factoring facilities have been designed to fill a void in the market by focusing exclusively on the credit quality of a company's accounts receivable. Versant Funding offers non-recourse factoring solutions to companies with B2B sales from $100,000 to up to $10 million per month. All we care about is the credit quality of the A/R.