Sallyport Commercial Finance delivered a $1.25 million accounts receivable facility to a manufacturing company which produces control panels for industries ranging from nuclear power plants to outdoor barbecues.
With more than 40 years of experience and a solid commitment to their customers, the company designs, tests and manufactures all their products in the U.S.
The company’s current lender could not meet the client’s need for additional working capital, asking them to find another solution. With new orders pending and a short timeline, the business sought a quick solution.
“Sallyport pulled through, giving the client the assurance of meeting their obligations, paying off the bank and positioning themselves to take on more orders. We are excited to be part of this growing business and to offer support so the owner can concentrate on sales and enjoy his vacation,” says James Bartel, vice president of Business Development.
The working capital will be used to pay off the company’s current bank, and expand its customer base.
