Sallyport Commercial Finance Provides $500K Factoring Facility to Seafood Wholesaler

Sallyport Commercial Finance finalized a $500,000 full notification factoring facility for a wholesaler of seafood products based on the east coast of Canada.

The client was referred directly to Sallyport by another factor that held a relationship with the wholesaler over the past decade but was soon to retire. Now that the client has the additional working capital it needs, it is free to concentrate on expanding the business from the east coast of Canada, where the majority of its business is done, into new regions across Canada and also into the United States.

"It was fantastic to work with a large Canadian bank and secure the subordination for the U.S. debtors, which has become a more common requirement. This truly demonstrates our cross-border capabilities for any company looking to sell into the U.S. and abroad," Dan Millar, vice president for Sallyport Canada, said.