6/4/2019 – Oklahoma – Sallyport Commercial Finance provides a $2,000,000 Accounts Receivable facility to a business that operates in the Oil and Gas sector hauling waste water from oil wells and then disposing the waste water in their disposal sites.
As part of an acquisition solution, Sallyport and a partnering equipment lender, supplied the needed capital required to close the transaction and provide ongoing working capital. The new ownership team will continue to service the existing clients and have the ability to expand and grow with Sallyport’s support.
“Sometimes an unusual set of circumstances come together to create an opportunity. The Team assembled for this acquisition helped us get over a couple of deal points that would usually be deal breakers for any lender. Sallyport was very happy to take the long view and back the acquisition Team,” says Nick Hart, President.
Sallyport is pleased to provide the creative finance solutions required so the new owners can easily acquire the business, expand their services, and modernize their internal controls. Working through a convoluted set of circumstances, we’re confident the business is now positioned to meet their aggressive growth projections and secure their Hopes and Dreams.
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