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. Heavy reporting requirements forced the company’s leader to spend undue time gathering information.

Versant was able to step in and payoff the ABL while providing needed liquidity. The company’s leadership is now free to focus on growing their business instead of reporting to their finance company.

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