Sallyport Commercial Finance provided a $500,000 accounts receivable facility to an oilfield services company.
Established during the downturn in the oil and gas sector, the company offers specialty support services and supplies to the oilfield business such as rig completion jobs, rig removal and hot shot services.
The company searched to find the right funding partner that would meet its needs to grow the business, as it had a poor experience with a factor in the past. The company chose Sallyport due to ease of use, responsiveness and the alignment of business values.
“This business had the challenge of meeting several payrolls before they are paid by their customers. With Sallyport’s help, the firm can now confidently meet payroll and accommodate the increasing demand in the oil and gas sector,” said James Bartel, vice president of Business Development.
