Sallyport Commercial Finance provides a $400,000 accounts receivable facility to a trucking company that specializes in carrying a variety of steel products such as rebar, plate steel, formed steel, coil and pipes.
Based in Washington state, the growing, family-owned company began with a truck and trailer and now comprises of more than 15 company trucks and operators. In addition to hauling steel, the company also transports lumber.
“When a short-haul trucking company needed help, they turned to Sallyport. The owner had recently acquired the firm. The bank was unable to provide a credit facility, and an MCA lender provided an insufficient, expensive and hard-to-cash-flow option. The young entrepreneur quickly realized that a self-liquidating, flexible and potentially increasing facility was a great solution,” said James Bartel, Sallport vice president of Business Development.
The owner, dedicated to growing his business, quickly realized the importance of partnering with a lender to help meet his daily cash flow requirements. Sallyport provided the working capital needed to ensure continued growth and to help meet the company’s goal to obtain bank financing in the near future.
Sallyport Commercial Finance is an independently owned and operated, specialty finance company focused on providing entrepreneurs with working capital solutions for small to medium-sized businesses.
