Sallyport Commercial Finance provided a $1.5 million factoring facility for a Canadian bakery. This new venture comes after the client’s previous company entered CCAA. Sallyport worked closely with the trustee throughout the insolvency, providing steady guidance and support from start to finish. As the owners launched their new entity, they turned once again to Sallyport, this time for the working capital needed to rebuild, stabilize operations and pursue growth.
The funding will provide essential working capital, enabling the business to ramp up production and take advantage of new opportunities in the market.
Sallyport partnered with the incumbent purchaser of the building and equipment, who now leases those assets back to the client, ensuring a smooth and collaborative transition for the new business.
“We’re proud to support this client with $1.5 million in factoring to provide the working capital they need to rebuild and grow after a challenging insolvency process,” Dan Millar, vice president, sales at Sallyport Canada, said. “Our team stood by them through every stage, and this funding will help position them to achieve their goal of becoming Canada’s leading donut producer.”
A client representative said, “Sallyport’s support was invaluable during a very challenging time. Their commitment and expertise gave us the confidence to move forward and pursue our goal of becoming Canada’s leading donut producer.”
