Sallyport are delighted to announce that we’ve just provided a $7,500,000 accounts receivable facility for an electronics distributor.
Referred to us by their current lender whom we will work alongside, the client has a highly seasonal business and needed to free-up working capital to be able to secure enough stock for the holiday season whilst also meeting their payroll commitments. The client will use these funds to pay their suppliers and workforce and they hope to be able to expand into other home electronics product lines in the future.
Alexandra Scoggin, VP for Sallyport commented…
With the California ports continuing to have severe constraints and delays, we were happy to provide our client the funding they needed to be able to bring in more products and safeguard the success of their busy holiday sales season. I am excited to see what new products they will be launching in the future.
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