Sallyport has announced two new financing transactions totaling $2.5 million, demonstrating the company’s commitment to supporting diverse businesses across Canada with tailored funding solutions.
In the energy sector, Sallyport Commercial Finance has provided a $2 million AR Non-Notification facility for a growing oilfield services company navigating a recent acquisition. With traditional banks unable to assist post-acquisition, Sallyport stepped in to provide the working capital needed to support day-to-day operations and set the stage for future expansion. This funding will enable the company to execute its roll-up strategy, acquiring additional businesses to strengthen its market presence.
“We are delighted to be able to help this client with working capital. The owner is a well-established businessman in the area, looking to acquire more companies, and we hope to support their growth and roll-up strategy,” said Dan Millar, Vice President, Sallyport Canada.
In a separate transaction, Sallyport has provided a $500,000 accounts receivable financing facility to a distinguished painting and drywall contractor. This strategic funding solution empowers the client to confidently undertake larger commercial projects by ensuring seamless cash flow, which covers essential expenses such as payroll and supplier payments.
The painting contractor, referred to Sallyport by a Canadian FinTech lender, sought additional capital to expand their capacity and serve more commercial accounts. Sallyport’s responsiveness, flexibility, and deep understanding of their growth challenges positioned them as the ideal financial partner.
“Our capital will allow the business to grow exponentially by leveraging their accounts receivable and supplementing their internal cash flow,” said Patrick Zazueta, Vice President at Sallyport.
