Daily News: July 1, 2019

Sallyport Provides $1.25MM A/R Facility to Mechanical Engineering Firm

Sallyport Commercial Finance provided a $1.250 million accounts receivable facility to a company that delivers a variety of mechanical, electrical and fire protection engineering services to various businesses nationwide.

The business operates in the construction service industry providing technical drawings and architectural projects for contractors in the aviation, education, healthcare, marine, military and municipal markets.

“This firm attempted to work with two other lenders that were unable to provide the necessary funding in order to pay off the incumbent bank. The bank was growing impatient and needed a solution. Sallyport stepped in with a quick and viable resolution, giving the bank a reprieve and the client, the ongoing working capital needed to realize new opportunities,” said James Bartel, vice president of Business Development.