Sallyport Commercial Finance Provides $1,500,000 in Funding for Expansion of Staffing Firm
October 4, 2021
Source: Sallyport Commercial Finance
Sallyport are thrilled to announce $1,500,000 in funding to a Canadian staffing firm serving the oil and gas services, mining and construction industries with permanent and temporary staffing solutions.
The company is a subsidiary of one of Sallyport’s existing and very successful US clients and was originally referred to Sallyport by a contact in the UK.
As is common in many staffing businesses, payments from debtors may take 45-60 days to materialize so meeting a weekly payroll can prove challenging. The client will use these funds to fund their payroll and sustain working capital so that they can focus on building their brand and presence as a startup in Canada.
There was never any competition to secure their business given the exceptional service they experienced from our operations team working with their US business and we’re delighted to be able to support their growth into new territories.
Calum Williamson, managing director of Sallyport Canada comments...
"We brought the US parent company of this business on board in 2019 and the fact that they’ve expanded into Canada and are now using our services to establish themselves here is purely testament to the service and relationship that’s been fostered by our operations staff. This is a fantastic business with a very bright future and we’re looking forward to being part of their continued growth.”
Sallyport Commercial Finance is an independently owned and operated specialty finance company focused on providing entrepreneurs with working capital solutions for small to medium- sized businesses, to help drive growth and achieve business hopes and dreams. Sallyport Commercial Finance offers a full suite of factoring and asset based products including Accounts Receivable Finance, Purchase Order Finance, Equipment and Inventory Finance, Cash Flow Loans, and Real Estate Loans. Very experienced in all industries, our current portfolio includes businesses in Staffing, Energy, Food & Beverage, Apparel, Manufacturing, Service Industry, Transportation, Government Receivables, and IT.
