Versant Funding LLC Funds a Non-recourse Factoring Facility to a Distributor of Electric Bicycles and Scooters

Versant Funding LLC is pleased to announce it has funded a non-recourse factoring facility to a distributor of electric bicycles and scooters which sells primarily through major e-commerce channels.

The holiday shopping season makes up a substantial portion of the annual revenue for the company, and without an immediate source of additional working capital, this revenue would have been lost for 2020.

While the business secured an Economic Injury Disaster Loan (EIDL) from the SBA over the summer, those proceeds provided only a few months of liquidity; not enough to fund them through the end of the year.

“Versant’s offering was an excellent match for this seasonal business,“ according to Chris Lehnes, Business Development Officer for Versant Funding, and originator of this financing opportunity. “We are strictly focused on the strength of our clients’ customers and set no cap on our facility size“ Lehnes added. “Since this business has a strong customer base, as its revenue and accounts receivable grow, so will its access to cash from our factoring facility.” About Versant Funding Versant Funding's custom Non-Recourse Factoring Facilities have been designed to fill a void in the market by focusing exclusively on the credit quality of a company's accounts receivable. Versant Funding offers non-recourse factoring solutions to companies with B2B sales from $100,000 to up to $10 Million per month. All we care about is the credit quality of the A/R.

Contact: Chris Lehnes, Business Development Officer; 203-304-9527; clehnes@VersantFunding.com