Sallyport provided a $1 million factoring facility to a growing electronic components distributor, referred to Sallyport by one of its trusted broker partners.
As the company expanded its footprint and order volume, so did its working capital requirements. Longer receivable cycles and increased purchasing demands were placing pressure on day-to-day liquidity. Sallyport’s factoring facility will provide the consistent cash flow needed to smooth the company’s cash cycle, strengthen operational stability and enable the company to seize new opportunities without delay.
The company’s long-term goal is to increase sales across the U.S. and expand internationally. This facility strengthens its financial footing as the company continues penetrating new markets and deepening relationships with OEMs and global distributors.
“The owners of the business collectively have over 40 years’ experience in electronic components distribution,” Patrick Zazueta, vice president of business development at Sallyport, said. “Their combined knowledge, experience and customer relationships have been key to their success from the beginning and we look forward to seeing them grow internationally with our support.”
