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The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
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SFNet's 40 Under 40 Award Winners Panel Recap
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
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The Lost Art of the Loan Purchase
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Audit Prep: Why a Paperless Approach Makes Sense
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
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Paper Loan Files: Does Your Bank Know the True Cost?
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September 20, 2023
Source: Sallyport Commercial Finance
Sallyport Commercial Finance announced it has provided $1.5 million to an oil and gas services provider to sustain sales momentum.
Sales growth meant this flourishing oil and gas services business needed additional working capital to fulfill a growing number of orders. With a limited financial history, the banks were reluctant to help and they were referred to Sallyport.
A $1,500,000 accounts receivable facility will give them the working capital required for day-to-day operations while they focus on pursuing their ambition to lead the North American market for valve actuation and modification in the midstream oil and gas industry.
Sallyport Business Development executive, Dean Winter, is excited to be part of the growth of an already successful Texan business. “It’s great to be able to provide a funding boost for a local Houston-based business," Winter said. "This company, despite an impressive track record of profitability and growth, faced a funding gap due to limited financial history. Businesses with this potential shouldn’t be denied the opportunity for growth purely because they’re newer - I’m very excited to be a part of their ongoing success!”
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.
Sales growth meant this flourishing oil and gas services business needed additional working capital to fulfill a growing number of orders. With a limited financial history, the banks were reluctant to help and they were referred to Sallyport.
A $1,500,000 accounts receivable facility will give them the working capital required for day-to-day operations while they focus on pursuing their ambition to lead the North American market for valve actuation and modification in the midstream oil and gas industry.
Sallyport Business Development executive, Dean Winter, is excited to be part of the growth of an already successful Texan business. “It’s great to be able to provide a funding boost for a local Houston-based business," Winter said. "This company, despite an impressive track record of profitability and growth, faced a funding gap due to limited financial history. Businesses with this potential shouldn’t be denied the opportunity for growth purely because they’re newer - I’m very excited to be a part of their ongoing success!”
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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