Sallyport Commercial Finance closed $4 million in financing for the expansion of a company’s manufacturing plant in the U.S. Sallyport partnered with a specialist inventory finance lender to take the total financing available to the client to $8 million through a combination of accounts receivable finance and inventory lending.
The company, based out of the eastern U.S., provides products to multiple industries, including the defense, automotive and aerospace industries. When the company was unable to extend traditional bank lines of credit further, it turned to Sallyport for assistance.
“It was such a pleasure to work with this hugely successful manufacturing and distribution client who simply needed additional support from a financial partner who could help them realize their hopes of expanding operations,” Alexandra Scoggin, vice president of business development at Sallyport Commercial Finance, said. “We were able to give them a facility to accommodate the expansion of their manufacturing plant so that they could increase production and set the business on course for continued growth.”
