HOUSTON — Sallyport Commercial Finance has provided $1.75 million in Accounts Receivable Financing to an oilfield equipment and repair company facing cash flow challenges due to long customer payment terms.
The borrower, whose clients typically pay on 60- to 90-day terms, turned to Sallyport through an internal referral. The funding will allow the company to increase working capital, secure new clients and grow its operations.
“This is exactly the kind of situation where our financial solutions have the biggest impact on businesses,” said Josh Sapolich, Vice President at Sallyport Commercial Finance. “We guided them through the process, got them the funding they need to grow and we look forward to working hand-in-hand to grow the business together.”
Sallyport specializes in working capital solutions for small and mid-sized businesses and offers a range of financial products including factoring, purchase order finance, and asset-based lending.
