Sallyport Commercial Finance funded a $150,000 accounts receivable financing facility for a newly established food distribution company focused on serving the growing Asian consumer packaged goods (CPG) market.
As a startup business entering a competitive market, the company required working capital to support its first customer orders, purchase inventory and establish day-to-day operations.
Leveraging existing relationship with the ownership group, Sallyport was able to quickly assess the opportunity and provide the financing needed to help the business begin its growth journey. Rather than viewing the company solely as a startup, Sallyport recognized it as the next stage of expansion for a proven entrepreneur with an established track record in the food industry.
The new accounts receivable financing facility will provide the liquidity needed to purchase inventory, fulfill customer demand and support ongoing operational expenses as the company builds its market presence.
Looking ahead, the company plans to establish a strong foothold in the Asian market, expand its product offerings and scale revenue significantly over the coming years. Longer-term goals include developing a dedicated production and processing facility to support continued growth and increased distribution capabilities.
“One of the most rewarding parts of our business is helping clients grow,” Kevin Yoon, vice president, business development at Sallyport Commercial Finance, said. “Supporting this brand-new business from its very first shipments is a great example of how we continue to partner with our clients as they expand into new markets. We look forward to growing together!”
