Versant Funds Non-Recourse Factoring Transaction to Maintenance Company with State Contract

November 12, 2024- Versant Funding LLC is pleased to announce it has funded a non-recourse factoring transaction to a company which provides maintenance and repair services for state-owned properties. 

This business has recently won a contract with a state entity which will drastically increase revenues, but also create the need for additional working capital to cover payroll and other overhead expenses. Versant was able to quickly put a factoring facility in place to advance cash against invoices due from the state, which will provide the company with the liquidity needed to fulfill their state contract obligations. 

“Versant’s factoring program was a perfect fit for this family-owned business in  need of expansion financing,“ according to Chris Lehnes, Business  Development Officer for Versant Funding, and originator of this financing  opportunity. “Because our approach to factoring focuses solely on the quality of accounts receivable, we were able to provide a facility with no cap which will grow automatically as the A/R balances with the state grow.” 

About Versant Funding 

Versant Funding's custom Non-Recourse Factoring Facilities have been  designed to fill a void in the market by focusing exclusively on the credit quality  of a company's accounts receivable. Versant Funding offers non-recourse  factoring solutions to companies with B2B or B2G sales from $100,000 to $10  Million per month. All we care about is the credit quality of the A/R. To learn  more contact: Chris Lehnes, 203-664-1535, clehnes@VersantFunding.com