Growing businesses often need access to flexible working capital to take advantage of opportunities when they arise. For one tire distribution company, that opportunity was expanding its operations with the purchase of a new building while maintaining the cash flow needed to support day-to-day business.
Sallyport Commercial Finance provided a $500,000 factoring facility to a tire distribution company that needed access to flexible working capital to take advantage of new opportunities. The company wanted to expand its operations with the purchase of a new building while maintaining the cash flow needed to support day-to-day business.
Referred by a trusted lender, Sallyport arranged funding that provides ongoing working capital to support daily operations while also helping finance the purchase of an additional building, creating the capacity needed for future growth. With stronger cash flow, the company is well positioned to continue serving its customers and expand its presence within the local community.
By unlocking the value tied up in outstanding invoices, the business can invest in its future without waiting for customer payments, ensuring growth plans remain on track.
“Along with working capital the prospect was looking for our financing to help buy another building for operations,” Dan Millar, vice president of business development at Sallyport Commercial Finance, said. “We were delighted to help with the expansion.”
