Sallyport Closes $2MM Factoring Facility for Canadian Distribution & Storage Business
We are thrilled to announce that Sallyport has successfully funded a $2 million invoice factoring facility for a rapidly growing distribution and storage company based in Western Canada. This significant financial partnership is set to propel our client’s expansion efforts.
The newly secured funds have been used partly to facilitate the purchase of a new building, a crucial step in accommodating the company’s burgeoning business operations. The remaining capital will be allocated towards ongoing working capital needs, ensuring the company can continue to thrive and expand with the goal of expanding across Canada and into the US.
Faced with the challenge of delayed bank financing, our client sought an alternative that could provide the necessary capital in a timely manner. Sallyport Commercial Finance emerged as the ideal solution, offering the speed and flexibility required to meet their urgent funding needs.
Dan Millar, VP for Sallyport, was delighted to be able to support the client’s expansion goals when the bank couldn’t accommodate within their time frame…
“When traditional bank financing was delayed, the client turned to Sallyport due to our speed and flexibility. We were able to cater to the strict timelines needed and provide them with much needed working capital.”
This opportunity came to Sallyport through a longstanding broker partner who played an instrumental role in the deal. Furthermore, we extend our gratitude to our trusted partner, an established name in the alternative finance industry, who facilitated the financing of the Real Estate component of this transaction.
This collaboration underscores our commitment to supporting ambitious businesses in achieving their growth objectives through tailored financial solutions. We are excited to witness the continued success and expansion of our client as they leverage this new funding to explore new markets and opportunities. We look forward to supporting their continued growth and success across Canada and into the United States.
About Sallyport Commercial Finance
Sallyport Commercial Finance is an independently owned and operated specialty finance company focused on providing entrepreneurs with working capital solutions for small to medium sized businesses, to help drive growth and achieve business hopes and dreams. Sallyport Commercial Finance offers a full suite of factoring and asset based products including Accounts Receivable Finance, Purchase Order Finance, Equipment and Inventory Finance, Cash Flow Loans, and Real Estate Loans. Very experienced in all industries, our current portfolio includes businesses in Staffing, Energy, Food & Beverage, Apparel, Manufacturing, Service Industry, Transportation, Government Receivables, and IT.