Sallyport Commercial Finance expedited the expansion of an Ontario advertising company with $250,000 in accounts receivable financing. The advertising company will use the funds to service its ongoing working capital requirements while giving it the additional capacity it requires to grow into new markets.
“As many industries are experiencing, the client’s debtors were taking much longer to pay and this caused them to experience a cash crunch,” Dan Millar, vice president for Sallyport Commercial Finance Canada, said. “It sometimes takes just one debtor to delay payment for a company to feel the impact in their cash flow and become frustrated as growth is hampered. These funds release valuable working capital for the business to use in expanding their operations throughout the province. The client was also excited by our capabilities in managing their back-office receivables, which gives them the time to concentrate on their growth free from the administrative burden.”
