Sallyport Commercial Finance Provides $1.5MM Accounts Receivable Facility to ARHT Media

ARHT Media, a provider of development, production and distribution of hologram and digital content, entered into an accounts receivable facility with Sallyport Commercial Finance for up to C$2 million ($1.5 million). Under the terms of the agreements signed with Sallyport, the company can draw down up to C$2 million ($1.5 million) based on its accounts receivable and inventory balances and includes other terms such as the ability to repay the facility at any time without penalty. This line of credit comes with a one-year term and an annual interest rate of approximately 14%. The loan proceeds will be used to fund working capital, and the facility is secured by accounts receivable and inventory assets. In addition, the company’s subsidiaries have provided guarantees on the facility.

“the additional capital available under this credit line will provide flexibility in working capital during this growth stage of ARHT Media’s development,” Larry O’Reilly, CEO of ARHT Media, said. “We are very pleased to secure this non-dilutive capital and appreciate the support from our tremendous partner, Sallyport Commercial Finance.”