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Sallyport Announces $1.6 Million in Financing for Canadian Manufacturer
November 8, 2021
Sallyport is excited to announce a $1,600,000 accounts receivable facility for a growing Canadian manufacturer in the agricultural space.
The client was referred to Sallyport by a broker, and although there were other providers vying for the business, the client ultimately favored Sallyport’s responsiveness and flexible approach to finding a solution that worked for them.
The business had unfortunately incurred recent losses and frequently encounters issues collecting on their accounts receivable which had started to be felt in the impact to their cash flow. These funds will be used towards operational costs and have also allowed them to fulfill a profitable new contract. With the support of Sallyport, they can be very optimistic for the future and their growth prospects, which they hope might feature expansion into the US.
James Bartel, Senior VP for Sallyport stated, “It was very satisfying to be able to help a Canadian company that has faced challenges but has many growth opportunities ahead. There’s never been a better time for companies that concentrate on innovative, energy-saving solutions and they just needed the right financial support to get them back on track. Sallyport came up with a flexible solution which supports the client in fulfilling a new contract. No one likes turning down work and SCF turned a no into a yes!”
Our client representative commented, “Thank you Sallyport! We are looking forward to building a relationship with the team.”
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.
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