Sallyport Closes on $400K for Industrial Manufacturer

Sallyport closed on a $400,000 tailored financial solution for an industrial manufacturer based on the West coast of the US. The package cash flow loan is $120,000, with the remainder accounts receivable facility.

Referred to Sallyport by a broker, the client had spiraling Merchant Cash Advance loan commitments that were becoming troublesome to meet and preventing them from moving forward. Sallyport was selected due to its skill in working with complex scenarios seem simple and resilience in dealing with the client’s existing creditors. The client was able to consolidate their financial needs through Sallyport.

“Our prospect really needed the help of a seasoned financial partner…between multiple MCA loans and pending orders that he was worried about filing, a new approach was needed. Sallyport alleviated the stress of the weekly MCA loan payments,” James Bartel, SVP of Sallyport, said. “These payments had been temporarily reduced but the prospect was worried that they could double or even triple in the near future. A solution was crafted to pay off these lenders and give the business the ability to take on future business.”