Sallyport are thrilled to announce $2.0 million in accounts receivable and purchase order finance for an expanding apparel business.
Sallyport already had a valued relationship with the client and had previously supported them with tailored financial services so they had no doubts about returning to us when they found themselves in need of funding and a letter of credit in order for their suppliers to release their goods for shipping to the US.
Our client pivoted into the PPE market during the COVID-19 pandemic and will use these funds to maintain and grow their PPE product line and rebuild their brand of footwear and handbag distribution.
“The company was looking for a PO financing solution that would enable them to secure orders from an overseas manufacturer and put them in a position where they can confidently accept larger orders of their PPE line from clients old and new.
The Sallyport team were wnderstanding of their situation and we structured a working capital solution that enabled the timely fulfillment of new contracts.”
Nick Hart, President, Sallyport Commercial Finance.
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