Daily News: February 5, 2018

Sallyport Provides $3MM Facility to Apparel Company

Sallyport Commercial Finance provided a $3 million combined credit facility to a global merchandising company which works with high-profile performers. The facility included an A/R line, an inventory advance and a seasonal over advance. The funding will be used to help build inventory and provide working capital to ease cash flow constraints.

“We are immensely satisfied to be working with our new client to provide the much-needed cash flow for their seasonal income streams,” said Matthew Tobin, vice president of business development. “Working directly with the CFO, Sallyport was able to deliver the right combination of financing tools to meet their needs and we look forward to the continued success of our partnership.”