Sallyport Commercial Finance completed a $125,000 accounts receivable financing facility for a Florida-based pet services company providing cremation services for pets.
As the business continues to expand its sales and service footprint, access to flexible working capital and dedicated A/R management was key to supporting its next phase of growth. Like many growing service businesses, their sales team was spending valuable time managing collections rather than focusing on selling and building new relationships. This created a cash flow gap that limited their ability to scale efficiently.
With this new A/R facility in place, the client will use the funding to support growth initiatives, redeploy internal resources and free up their sales team to focus on business development instead of chasing receivables. By outsourcing A/R management, the company can now better manage cash flow, reduce month-to-month pressure and reinvest capital back into the business to grow its client base and increase sales.
The transaction was referred by a broker and did not involve an incumbent lender.
“It was an honor to work with this client. Several years ago, my family and I needed pet cremation services through our veterinary clinic, so having the opportunity to collaborate with them and provide a working capital solution that allows them to expand their services to more clinics is especially meaningful. I look forward to seeing them grow and achieve their goals,” Melissa McGuire, VP Business Development, Sallyport Commercial Finance, said.
