Floral Business Set to Flourish with $1.2M Finance

Sallyport Commercial Finance is excited to announce the successful funding of a $1.2 million accounts receivable facility for a supplier in the floral industry. Specializing in salal, a key component in wreaths and floral bouquets, the company sought funding to manage the seasonal nature of their business, with over half of their sales occurring within a two-month period starting in October.

Referred by a broker, the client needed working capital to bridge cash flow gaps created by offering large prepay discounts to customers, which were not always utilized, leaving the company dealing with cash flow challenges. The funds will allow them to smooth out seasonal fluctuations and prepare for their busy season ahead.

Having recently taken ownership of the business from their parents, the client’s long-term goal is to build a sustainable family business that can be passed down to future generations. After considering Sallyport last year, they ultimately chose to partner with us due to our deep understanding of the needs of a seasonal business.

James Bartel, Senior Vice President at Sallyport, commented, 

“I am pleased to announce Sallyport’s latest client, a supplier to the floral industry. The company is very seasonal, and it is great that we can provide the financial support required to allow the firm to flourish despite the challenges surrounding their business model.”

This partnership highlights Sallyport’s commitment to helping small businesses overcome their challenges and thrive in their respective industries.