North Dakota- 4/30/18 – Sallyport Commercial Finance provides a $500,000 Accounts Receivable facility to an oilfield services company.
Established during the downturn in the oil and gas sector, the company offers specialty support services and supplies to the oilfield business such as rig completion jobs, rig removal and hot shot services.
“This business had the challenge of meeting several payrolls before they are paid by their customers. With Sallyport’s help, the firm can now confidently meet payroll and accommodate the increasing demand in the oil and gas sector,” says VP of Business Development, James Bartel.
The company conducted a vigilant search to find the right funding partner that would meet their needs to grow the business. The CFO had used a factor in the past and had mixed feelings due to a prior experience. Sallyport was chosen due to ease of use, responsiveness, and the alignment of business values.
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, to help drive growth and achieve business hopes and dreams. The senior management team have over 50 years of collective experience in helping entrepreneurs grow their businesses, both in the US and Europe, by turning their invoices and assets into cash. Sallyport Commercial Finance offers a full suite of factoring and asset-based products including Accounts Receivable Finance, Purchase Order Finance, Equipment and Inventory Finance, Cash Flow Loans, and Real Estate Loans. Very experienced in all our industries, our current portfolio includes businesses in Staffing, Energy, Food & Beverage, Apparel, Manufacturing, Service Industry, Transportation, Government Receivables and IT.
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