Sallyport Provides $2M Financing for Optical Technology Firm
We’re delighted to announce $2M in finance for a leading developer of cutting-edge optical equipment and corneal topography technology. This funding comprises Cash Flow Loans and Inventory Finance as the business sets its sights on accelerating domestic revenue, achieving financial stability and further advancing its research and development endeavors.
The client, referred via a small Family Office investment business, specializes in the design and distribution of innovative optical equipment, including corneal topography technology, along with a suite of related accessories, extended warranties, upgrades and software solutions. Their commitment to pioneering advancements in the field of optometry has garnered them widespread recognition and a loyal customer base.
The infusion of funds from Sallyport will provide our client with a tailored accounts receivable facility, strategic financing which will enable the company to expand its domestic operations, increase revenue streams and achieve financial sustainability. Moreover, it will fuel further research and development initiatives, allowing the client to continue pushing the boundaries of optical technology.
One notable aspect of the funding is its enablement of international sales. The client intends to leverage the facility to facilitate sales to unrelated entities abroad, backed by comprehensive insurance coverage. This international expansion strategy underscores the company's commitment to global growth and market penetration.
Sallyport is excited about the collaboration, as Nick Hart, President, comments;
"Having been experts in the ophthalmic field for many years, we are excited to help our client deliver their innovative new ophthalmic technology and equipment to a wide range of optical physicians both in practice, in education at home and overseas.
Their technology represents a huge step forward in the diagnosis and resolution of a wide range of patient conditions.”
As our client embarks on this new chapter of growth and innovation, the partnership with us promises to be a catalyst for success. With a shared commitment to excellence and innovation, we’re sure that the business is now well-placed to shape the future of optical technology and redefine industry standards.
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.