We’re delighted to announce a $1,000,000 accounts receivable facility for a lighting manufacturer headquartered in Tennessee.
The business held a very strong sales position through the pandemic, however with subsequent supply chain challenges and inflationary pressure, sales plateaued over the last couple of years. The market is now experiencing an uptick in activity and the business will use the funds to support this growth and pay down some debt to reduce the incumbent bank’s position.
VP of Business Development, Dylan Zimmerman appreciated the concerted effort from the team to work through a complex situation…
“I’m very proud of the work the team put in on this one. Despite the complexities, we were able to provide a flexible financing solution to enhance their working capital position.”
The client was introduced to Sallyport by another ABL lender who was unable to accommodate the facility they required. As the market improves, the client now has a financial partner and the liquidity to take advantage of increased activity.
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