Sallyport Commercial Finance provided a $5 million financing package to a North American manufacturer of health drink products. The company is based in Canada and has a U.S. subsidiary. It produces nutritional health drinks aimed at people older than 40 that promote muscle recovery, improve energy levels and increase strength.
The client was introduced to Sallyport through a referral partner in the investment banking industry when it was looking to raise funds while avoiding the unnecessary dilution of equity. The company will use the funds from Sallyport to build its inventory and better place it for growth and new opportunities.
“With our cross-border funding capability and additional suite of products, we were able to offer this Canadian-owned company the ideal funding solution they required, consisting of a $5 million cross-border accounts receivable facility with cash flow loan,” Calum Williamson, managing director for Sallyport Canada, said. “After years of research and development, the company is geared for expansion, and we are delighted to be their preferred financial partner to aid their growth plans.”
