Sallyport Provides $1M in Financing to a Canadian Importer

Sallyport is delighted to confirm a combined $1,000,000 in financing for a Canadian importer of industrial pipes and flanges. Sallyport was front of mind for the prospect who were referred by an existing client with whom it hold a long-standing relationship. As many businesses are experiencing, long lead times from manufacturers coupled with large, up-front payments, can result in a strain on cash flow. The prospect has to pay their suppliers in China while the goods make their way slowly across the water, tying up valuable working capital in the process and impeding growth. Sallyport now pays their suppliers directly and they need only finance the invoice once the goods arrive with the debtor in North America.

The financing consists of $750,000 in accounts receivable funding and $250,000 purchase order finance, which will be utilized for ongoing working capital requirements, leaving the client free to increase their debtors and grow business in the region.

MD for Canada and North American sales manager, Calum Williamson, highlighted that the strength of Sallyport’s relationship with the existing client was key to securing this business…

“Having funded a division of the business for two years, we developed a strong relationship with the then logistics partner, who held the relationship with the Chinese manufacturers. When the model changed, we took on board the client to ensure cash flow and working capital remained strong within the company.”

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.