$900,000 in Accounts Receivable finance sets up staffing business for stateside growth.
The client was referred to Sallyport via our partner in the banking industry. They were experiencing accelerated growth and with long payment cycles, this caused some cash flow issues which saw them looking for a finance partner to help them make their payroll, invest into new areas and be able to compete for bigger contracts. The client will now use the funds to pay suppliers, meet payroll and make capital investments which will fuel their growth across states and enable them to take on the larger contracts that they weren’t able to previously.
Alexandra Scoggin, VP for Sallyport commented…
From start to finish the client team were such a passionate group of people to work with and their ambition for growing the business was evident. We were able to get them funded and up and running with their facility very quickly giving them the breathing room they needed to concentrate their efforts on the business.
Our new client expressed their satisfaction…
Sallyport has been amazing to work with. We are so happy that we were able to get financed by such a great company.
Top 10 Ways to Improve Performance in Food and Beverage Manufacturing
There’s no doubt, being in the food and beverage manufacturing industry at this point in time is tough. It was…
What to Do When the Bank Says No : Alternative Business Funding Sources
Obtaining bank financing has always been difficult for certain businesses and the current economic environment is making it even more…
What is Factoring?
Here we explain what exactly factoring is and how we can help your cash flow…