Sallyport Commercial Finance provided a $1 million accounts receivable finance facility to a lighting manufacturer headquartered in Tennessee.
The business held a strong sales position through the height of COVID-19 pandemic; however, with subsequent supply chain challenges and inflationary pressure, its sales plateaued over the last two years. The market is now experiencing an uptick in activity and the business will use the funds from the Sallyport facility to support growth and pay down debt to reduce its incumbent bank’s position.
“I’m very proud of the work the team put in on this one,” Dylan Zimmerman, vice president of business development at Sallyport Commercial Finance, said. “Despite the complexities, we were able to provide a flexible financing solution to enhance their working capital position.”
The client was introduced to Sallyport by another asset-based lender that was unable to accommodate the facility the client required.
