Sallyport Commercial Finance provided a $500,000 accounts receivable facility to a startup in the staffing industry.
Facing rapid contract growth in their early stages, the company sought funding to bridge working capital gaps and support payroll operations. The client has been focused mainly on entry-level labor roles such as warehouse operations, garbage hauling and assembly line personnel; however, the business has ambitious plans to grow organically with additional contracts and also expand their services to provide professional and white-collar personnel.
The decision to partner with Sallyport came from one of the owner’s prior experiences and familiarity with Sallyport’s systems and team.
“It was a privilege to collaborate with such a smart and experienced team on their new venture,” Dean Winter, business development executive with Sallyport, said. “Supporting entrepreneurs is at the heart of what we do at Sallyport, and I’m excited to see how they grow and succeed in the future.”
