Sallyport Commercial Finance provided $500,000 in financing to a startup chemicals importer.
With no payment terms from its suppliers and extended payment terms from its customers, the client had a bottleneck in working capital preventing it from fulfilling orders. The business was referred to Sallyport by a past client and the funding will enable the business to continue growing by bringing on more customers and expanding its product offering.
“It’s a privilege to have the opportunity to support a growing startup,” Dean Winter, business development executive for Sallyport Commercial Finance, said. “The entrepreneur’s unique industry experience, along with our understanding of their specific financial needs, lays the groundwork for our partnership. I’m looking forward to being part of this next step in their business’ success journey.”
