Sallyport Capital Finance provided a total of $2.75 million in accounts receivable financing for a staffing company operating in both the United States and Canada. The funding includes $1.5 million for the company’s U.S. operations and $1.25 million for its Canadian business, providing the working capital needed to support payroll and ongoing business growth.
The client was already factoring its U.S. accounts receivable with an existing bank lender but faced a challenge when launching a new Canadian company. The incumbent lender was unable to provide accounts receivable financing for the Canadian business, leaving the client seeking a flexible financing partner capable of supporting operations on both sides of the border.
After searching for a cross-border lender, the client reached out to Sallyport. Recognizing the opportunity to deliver a comprehensive solution, Sallyport structured a financing arrangement that included both the U.S. and Canadian companies, with Sallyport taking over the U.S. accounts receivable financing as part of the overall facility.
The $2.75 million financing facility provides the client with access to working capital to meet payroll obligations while supporting the continued development of its U.S. and Canadian operations.
With a financing partner capable of supporting both businesses, the client can focus on growing its operations across North America with a long-term financing relationship in place.
“The client needed a flexible cross-border financing solution to support growth and working capital needs,” Louis Hart, business development associate at Sallyport Capital Finance, said. “We were proud to deliver a structure that provided immediate access to liquidity and positioned the business for continued success.”
Calum Williamson, managing director, North American sales, added, “This closing demonstrates the strength of our team’s collaboration and commitment to our clients. Despite tight timelines, Louis and our underwriting and operations teams worked seamlessly to deliver a tailored solution and achieve successful funding.”
