Sallyport Commercial Finance provided a $750,000 accounts receivable facility, including an inventory loan, to a contract manufacturer and importer of custom apparel.
The company produces a variety of clothing, ranging from lifestyle to work apparel. The business also offers customers labeling and packaging referral services. Managing the volatility of the market and the everchanging retail sector, the business needed a lender that would help it secure the financing required to restructure the business and provide ongoing working capital.
“This long-standing work safety apparel company has been looking for a lender to support them through a turnaround strategy. Being able to put in place a non-notification A/R facility and an inventory loan should allow them to meet their goals and vision for the business,” says Calum Williamson, managing director at Sallyport Commercial Finance.
