Sallyport Commercial Finance arranged a $2 million accounts receivable facility for an established company that provides high quality, aftermarket replacement parts to a variety of heavy equipment units.

The company was in the process of transitioning from a large ABL lender by slowly winding down the facility. The company received a nasty surprise when a large customer payment was received, and the lender unexpectedly accelerated the indebtedness. This prevented the company from having funds for wages and day-to-day expenses.

The company asked if Sallyport would step in to replace the working capital line. Despite the complexity of the transaction, Sallyport was able to pull it together in a very short time frame to cover the company’s wages.

“Relationship is everything, and our team. working in lockstep with the client, got the deal done in just over a week. I am proud of what we were able to achieve on this one, averting undue hardship for the client and their employees. Unfortunately, the world throws us a few nasty surprises from time to time but thankfully, Sallyport was there to help!” said Sallyport President Nick Hart.

Sallyport’s quick response gave the client time and peace of mind to focus on the implementation of their new strategic partner strategy and to ensure their long-term success and growth.