Sallyport Commercial Finance provided a $2 million accounts receivable facility, including a $500,000 cash flow loan, to a company that provides traffic control services.
“When we connected with this traffic and safety company, they recently had taken a large ACH loan to help with their short-term payroll needs,” Matthew Tobin, vice president of Sallyport Commercial Finance, said. “In addition, the current fallout from the COVID-19 virus put their future as an SME in question. When it was identified that the company was defined to be an essential business, there was an immediate demand to meet local government needs. Sallyport was able to provide a factoring facility and a cash flow loan to ensure this business has the capital to meet its payroll and expansion needs.”
