TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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October 20, 2021
Source: Sallyport Commercial Finance
Sallyport announced it has provided $900,000 in accounts receivable finance that sets up staffing business for stateside growth.
The client was referred to Sallyport via its partner in the banking industry. They were experiencing accelerated growth and with long payment cycles, this caused some cash flow issues which saw them looking for a finance partner to help them make their payroll, invest into new areas and be able to compete for bigger contracts. The client will now use the funds to pay suppliers, meet payroll and make capital investments which will fuel their growth across states and enable them to take on the larger contracts that they weren't able to previously.
Alexandra Scoggin, VP for Sallyport commented, "From start to finish the client team were such a passionate group of people to work with and their ambition for growing the business was evident. We were able to get them funded and up and running with their facility very quickly giving them the breathing room they needed to concentrate their efforts on the business."
The new client expressed their satisfaction, "Sallyport has been amazing to work with. We are so happy that we were able to get financed by such a great 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.
