Sallyport Commercial Finance Provides $6MM Factoring Facility for Canadian Cold Storage and Logistics Company

Sallyport Commercial Finance funded a $6 million bulk factoring facility for a Canadian cold storage and logistics company to strengthen its working capital position.

Sallyport was referred to this deal by a bank and its ability to run the arrangement via a borrowing base factoring facility was the key to securing the business.

The client will use the funds for day-to-day working capital, enabling the client’s growth after taking on a large U.S. contract.

“This deal was referred to us by a large Canadian bank and was a true reflection of Sallyport’s capabilities and flexibility,” Dan Millar, vice president for Sallyport Commercial Finance, said. “It was not straightforward, but we were able to repay the bank in full along with giving the client some much needed extra working capital.”