Versant Funding funded a $1.5 million non-recourse factoring facility for a national distributor of CBD-infused body care products.
“This private equity sponsored business is experiencing increasing interest from major retail and grocery chains to sell its lines of premium, all-natural skin care products, which are infused with CBD oil derived from hemp,” Chris Lehnes, business development officer for Versant Funding and originator of this financing opportunity, said. “The surge in sales and resulting bump in accounts receivable are creating a need for more cash to cover overhead and get the next order filled. We do not set caps on our factoring facilities. So, provided our newest client continues to sell its products to strong companies, as this business grows, so does its access to cash with Versant.”
Versant Funding offers non-recourse factoring solutions to companies with B2B sales from $100,000 up to $10 million per month.
