Sallyport provided a $400,000 tailored financial solution to an industrial manufacturer based on the West coast of the U.S. The package is made up of a $120,000 cash flow loan with the remainder accounts receivable facility.
The client was referred to Sallyport by a broker and had spiraling merchant cash advance loan commitments that were becoming troublesome to meet and preventing them from moving forward and accepting new business.
Sallyport were selected as they made a particularly complex scenario seem simple and demonstrated resilience in dealing with the client’s existing creditors.
“Our prospect really needed the help of a seasoned financial partner – between multiple MCA loans and pending orders that he was worried about filing, a new approach was needed,” James Bartel, senior vice president at Sallyport, said. “Sallyport alleviated the stress of the weekly MCA loan payments. These payments had been temporarily reduced but the prospect was worried that they could double or even triple in the near future. A solution was crafted to pay off these lenders and give the business the ability to take on future business.”
