Versant Funding closed a $2.4 million factoring facility for a talent agency. Versant’s non-recourse factoring facility will serve as a bridge while the company cleans up its balance sheet with the goal of entering into traditional bank financing within the next 12 to 18 months.

Versant’s ability to fund the deal quickly, without requiring arduous reporting, was critical to the client, that needed the funds to cover an upcoming payroll.