$10,000,000 Finance for Oil and Gas Company Under Pressure

To close out 2021, Sallyport is delighted to announce a $10,000,000 finance package covering accounts receivable, inventory and real estate. 

The client was referred to us by investment banking partners whom we worked with on multiple occasions in progressing this arrangement. They needed a reliable lender that they could depend upon to follow through on their promises in order to close the deal for the client in a very tight time frame.

Sallyport’s tenacity meant taking the lead with other lenders in the equipment, inventory and real estate arenas to drive the deal to fruition in a timescale that many others could not. The suite of working capital and term loans freed up capital for the client to pay off a former parent company and enable their exit from the bank. 

Sallyport’s referral partners noted;

“Sallyport with their account receivable lending expertise took the lead amongst 4 other lenders – real estate, equipment and inventory and provided a full suite of term and working capital credit availability. Sallyport management worked in a very tight framework of around 28 days to get the facility closed. It was great working with Sallyport on closing over $35 Million of credit.”

Jay Krasoff, Investment Banker

“Sallyport committed and closed, under a very short timetable, an essential portion of capital needed for the successful exit financing of a company in an out-of-favor industry”

Tom Bell, Investment Banker

Wade Concienne, Sallyport Vice President commented;

“We were able to come up with a creative solution to get the company where they needed to be. None of this would have been possible without the help from the turnaround group and participating lenders and their collaboration. I am excited to watch the client grow!”