Sallyport Commercial Finance Provides $500,000, Gets New Oil and Gas Company Off the Mark

Sallyport Commercial Finance is delighted to announce the late March funding of a new business in the oil and gas services industry. The $500,000 accounts receivable finance will give them the working capital required to support their rapid projected growth.

Referred to Sallyport by a banker, the company being new and only just beginning to bill their clients, couldn’t attract traditional bank funding due to insufficient trading and credit history. Their goal is to get their services utilized by mid-market and large independent oil companies; services which will assist these organizations in improving the quality and speed of their decision making whilst drilling.

Dean Winter, business development executive for Sallyport understands the challenges that new entrepreneurs can face in accessing working capital for growth.

“I'm proud to be a part of a team that understands the unique financial needs of a new and growing company,” Winter said. “I’m excited to see how our funding can enable this Oil and Gas Services company to seize opportunities, grow their business and succeed in today’s competitive market. It’s a pleasure to add such ambitious entrepreneurs to our portfolio.”

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.