Sallyport Commercial Finance Provides Oil and Gas Company with $1,750,000 in Capital

Sallyport is delighted to announce $1,750,000 in accounts receivable finance for an oil and gas company in the US.

The client was referred to Sallyport through an existing client in the energy services space who were more than happy to recommend our services. We secured the business through our clients’ strong connection with the prospect and their ongoing relationship with Sallyport EVP Emma Hart.

The pandemic resulted in some cash flow challenges for this business as they saw income dropping and profitability taking a downward turn. They also want to be able to acquire several new contracts which they were unable to until liquidity improved. The injection of working capital will allow them to commit to these new contracts and subsidize the losses incurred during COVID until they regain profitability.