$500,000 Funding Puts Seafood on the Plate in New Provinces

A $500,000 full notification factoring facility has just been finalized for a growing wholesaler of seafood products based on the East Coast of Canada.

The client was referred directly to Sallyport by another factor who held a long-standing relationship with the customer over the past decade but was soon to retire. Now that the client has the additional working capital they need, they’re free to concentrate on expanding the business from the East Coast where the majority of their business is done, into new regions across Canada and also into the US.

VP Canada, Dan Millar noted that this client represents one of several recent opportunities where we were able to work with the bank to secure a subordination for US debtors…

"It was fantastic to work with a large Canadian bank and secure the subordination for the US debtors which has become a more common requirement - this truly demonstrates our cross border capabilities for any company looking to sell into the US and abroad."

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.