Sallyport Commercial Finance provided a $6 million accounts receivable facility and a $1.5 million inventory facility to a chemical, oil and gas manufacturer.
An investment banking partner of Sallyport referred the client, whose previous provider ceased the funding of inventory and intended to exit the relationship based on the industry. Sallyport secured the deal by working with a specialist in inventory lending and a financial consultant to structure an agreeable proposal.
“Ensuring this deal came to fruition required a great deal of creativeness and the tenacity to find a solution befitting of the clients’ unique needs,” Wade Concienne, vice president of business development at Sallyport Commercial Finance, said. “With the guidance of an exceptional financial consulting firm and working closely with a specialized inventory lender, we were able to get the company refinanced and back on track to success. We are extremely excited to have the business on board and look forward to realizing great things together.”
