Versant Funding Provides $1.8MM Factoring Facility to Sweets and Treats Distributor

Versant Funding provided a $1.8 million non-recourse factoring facility to a national distributor of sweets and treats.

“Versant’s offering was an excellent match for this evolving business,” Chris Lehnes, business development officer for Versant Funding and originator of this financing opportunity, said. “When COVID-19 began to impact its core customer base of department stores and retailers, our client was nimble enough to pivot to target the better-performing grocery and pharmacy channels.”

“We do not set a cap on our factoring facilities, so, provided our client continues to sell its products to strong companies, as this business grows, so does its access to cash.”