Skip to content

Oil and Gas Company Regroup with $1,750,000 Capital

Sallyport are delighted to announce $1,750,000 in accounts receivable finance for an oil and gas company in the US. 

The client was referred to Sallyport through an existing client in the energy services space who were more than happy to recommend our services. We secured the business through our clients’ strong connection with the prospect and their ongoing relationship with Sallyport EVP Emma Hart. 

The pandemic resulted in some cash flow challenges for this business as they saw income dropping and profitability taking a downward turn. They also want to be able to acquire several new contracts which they were unable to until liquidity improved. The injection of working capital will allow them to commit to these new contracts and subsidize the losses incurred during COVID until they regain profitability.

In the longer term, the client hopes to adjust their structure to allow one of the owners to take greater control of the company and grow their revenue to $25M a year. 

James Bartel, Senior VP for Sallyport, is grateful for satisfied clients whose positive experience leads them to endorse Sallyport, our services and team…

“It is always great to have a client recommend us to their industry peers based on a resoundingly positive experience. We’ve helped many businesses in the oil and gas sector this year and I am sure this one will be no different –  they are well equipped now and will show a vast improvement in their business in the coming months and we look forward to seeing it!”

Posted in
  • News

Canadian Business Revitalized with $2.5M Finance Boost

May 13, 2024

At a crucial time in Big Erics 80-year history, Sallyport are delighted to be announcing $2.5 million in financing for…

Read More

Advancing Apparel with $500k Accounts Receivable Finance

May 10, 2024

A $500,000 accounts receivable finance facility will serve as a vital resource for our new client as they navigate the…

Read More
  • Articles

Financing a Professional Services Business

We often regard professional services businesses as being easier to manage than a product based business and in a lot…

Read More

10 Common Cash Flow Problems for Businesses

Cash flow is a fundamental metric that’s used as an indicator of the financial health of a business. In essence…

Read More
  • Videos

Supporting Businesses in 2020

View Now

What is Factoring?

Here we explain what exactly factoring is and how we can help your cash flow…

View Now
Scroll To Top