HOUSTON, TX – Sallyport has successfully funded a $500,000 accounts receivable facility for a growing oilfield services business, providing the company with immediate working capital to support its expansion.
With increasing business activity and extended customer payment terms, the company faced stretched accounts payables, making it difficult to pay key suppliers on time. The new factoring facility enables the business to convert outstanding invoices into cash, ensuring smooth operations, meeting supplier obligations, and securing new projects to drive further growth.
“The company’s long-term goal is to establish itself as a trusted leader in wellhead and pressure control services, setting new industry standards for safety, quality, and sustainability,” said Dean Winter, Business Development Executive at Sallyport. “We’re thrilled to provide this funding solution, which was secured in just 10 days from the signed term sheet. This deal demonstrates our team’s ability to act quickly and deliver financial solutions that align with our clients’ urgent needs.”
Sallyport remains committed to supporting businesses in the oil and gas sector with tailored financial solutions that promote stability and growth.
