Daily News: April 8, 2016

Versant Closes $12MM Factory Facility for NE-Based Business

Versant Funding closed a $12 million non-recourse factoring facility for a business based in the Northeast. The company was being financed by an ABL that was limiting availability and, with heavy reporting requirements, forcing the company’s leadership to spend undue time gathering information.

Versant was able to step in and payoff the ABL while also providing needed liquidity.

Versant Funding offers financing to companies in need of immediate working capital.