California – Sallyport Commercial Finance arranges a $3,250,000 combined credit facility offering an Accounts Receivable line, Purchase Order facility and Inventory facility to help an appa20rel company refinance their existing senior credit facility and provide additional working capital to help position them for substantial growth over the next 12 months.
With familial history in the apparel industry, this company brings a wealth of business experience in sourcing and fabricating private label Denim and Activewear lines for a number of high-profile customers and brands. In the midst of a difficult restructuring plan, the owner turned to Sallyport’s management team for some direction and much needed working capital, the lack of which was stifling the growth and opportunity of the company, forcing it to turn away business.
“At very short notice we were asked if we could help out the client and the exiting lender. With mutual cooperation of the three parties we got the deal done in five days. Now we are concentrating on helping our new client build out their opportunity,” says Nick Hart, President of Sallyport.
In addition to the company’s private label services, ongoing use of funds will be used to expand their own unique clothing line whilst paying down debt to a previous lender. With a solid restructuring plan and a strong finance partner, the business is positioned to meet their obligations, service their existing and new client base, grow their brand and achieve their hopes and dreams.
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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