Sallyport Commercial Finance provided $900,000 in funding to a toy distributor. This funding package includes a $750,000 accounts receivable facility and a $150,000 inventory facility.
The toy distributor sought funds due to not meeting the incumbent lender’s funding minimum and facing historical losses. The funding will be utilized for additional inventory purchases and integration with a new third-party logistics provider (3PL).
“I am excited to welcome our newest client,” James Bartel, senior vice president of Sallyport, said. “The business has a positive trajectory with a pending new 3PL agreement that will allow them to enhance their profitability. The new facility will improve the company’s capacity to borrow which will allow them to buy more inventory and engage in new marketing efforts.”
“The closing process with Sallyport went great,” the customer said. “James Bartel helped make the process smooth along with the underwriting team. James was also quick to respond in providing a term sheet. We are eager to work with Sallyport going forward.”
