Sallyport Commercial Finance arranged a $9 million credit facility comprised of A/R, inventory and real estate lines to a wholesaler and distributor of outdoor apparel and other accessories.
“The bank asked our client to find another lender and pay them off. After numerous broken promises from other finance companies, they turned to Sallyport for the right solution and continued support of the business. We were able to provide a compelling, tailored finance solution encompassing their receivables, inventory, and real estate to help them exit their bank and give them the needed working capital to secure new business and ensure payments to their key suppliers,” said Danny Krasna, vice president of Sales.
After breaching covenants with their existing ABL lender, the company was pressed to seek out another finance solution. With the help of a broker, the company was introduced to Sallyport who took the time to understand the business and develop a plan that will put them back on track towards profitability.
