Sallyport Commercial Finance Secures $900,000 Finance for Toy Distributor
Sallyport Commercial Finance is pleased to announce that a leading toy distributor has secured $900,000 in funding. This funding package includes a $750,000 Accounts Receivable (AR) facility and a $150,000 inventory facility.
The toy distributor sought funds due to not meeting the incumbent lender’s funding minimum and facing historical losses. The funding will be utilized for additional inventory purchases and integration with a new third-party logistics provider (3PL), positioning the company for future growth and profitability.
The distributor's long-term goal is to galvanize their profitability and generate a steady income stream for its current owners. Sallyport was chosen over competitors due to a strong referral from the incumbent lender and Sallyport's responsiveness, which included on-site meetings.
Sallyport Representative, Senior VP James Bartel stated;
"I am excited to welcome our newest client. The business has a positive trajectory with a pending new 3PL agreement that will allow them to enhance their profitability. The new facility will improve the company’s capacity to borrow which will allow them to buy more inventory and engage in new marketing efforts."
The customer praised the partnership, saying,
“The closing process with Sallyport went great. James Bartel helped make the process smooth along with the underwriting team. James was also quick to respond in providing a term sheet. We are eager to work with Sallyport going forward.”
About Sallyport
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.
