Sallyport Commercial Finance provided a $10 million facility to a hydroponic and lighting supplies company in the agricultural industry. The funding, structured across accounts receivable, inventory and purchase order finance, is designed to empower the company with the working capital necessary to support its rapid growth and the launch of a new product line.
The client was facing limitations with its previous lender, which was unable to provide the increased facility size or the comprehensive funding products required to sustain its momentum. With sales growth accelerating and a new product line on the horizon, the company needed a flexible financial partner capable of providing a robust, multi-product solution.
“Sallyport Commercial Finance has been a true partner in our business journey,” the client said. “They took the time to understand our unique needs and tailored a game-changing facility just for us. With their support, we’re now playing offense rather than defense, and we couldn’t be happier. It’s hard to imagine where we’d be without them.”
“At Sallyport Commercial Finance, we take pride in empowering businesses with the financial solutions they need to achieve their goals,” Kevin Yoon, vice president of business development for Sallyport, said. “This latest funding marks an exciting step forward for our client, enabling them to scale operations and drive innovation.”
“We are thrilled to provide a $10M asset-based lending facility to our newest client, empowering them with the working capital needed to resolve immediate cash flow problems, drive growth and seize the new opportunities that their new product launch will bring,” Nick Hart, president of Sallyport Commercial Finance, said. “At Sallyport Commercial Finance, we are committed to delivering flexible financing solutions that help businesses thrive and achieve their full potential.”
