Sallyport Commercial Finance Provides $7,500,000 Funding for Fuels Oil and Gas Industry Manufacturer

Sallyport is delighted to add another client in February with $7,500,000 accounts receivable funding for a tank manufacturer to the oil and gas industry.

The manufacturer's products are in huge demand and with a significant backlog of $80m worth of orders, they needed working capital to satisfy an investor loan and meet their payroll whilst also getting their products out the door to customers. The client can now continue with their growth and expansion goals, achieving a faster turnaround on manufacturing alongside exceptional customer service.

It's a real honor to be able to support a rare Centenarian business, whose long-standing success has been based upon their prudent financial planning and strong sense of purpose and values. Sallyport were chosen to partner with the incumbent inventory lender due to our ability to provide the professional collateral management services that are essential to the Oil and Gas sector.

Greg Dyson, Sallyport's national sales manager was thrilled to bring this business into the Sallyport fold.

“We are excited to be a trusted partner in the continued expansion of a 100-year-old business serving the energy sector. By unlocking their accounts receivables, the business is poised to fill all their back orders with confidence and meet timely deliverables to exceed customer expectations.”

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.