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Sallyport Commercial Finance Supports a Business with a Multi-Million Dollar Credit Facility

Texas – Sallyport Commercial Finance arranges a $8,500,000 Accounts Receivable facility to an established construction supply company serving North Texas.

This Entrepreneurial business had enjoyed rapid growth and success for over 20 years when a strategic investment misfired causing a breach of their bank covenants. The new business team at a proposed replacement bank promised they would get the deal done, but after months of underwriting the Credit Department declined the $8.5m facility for the company.  With 450 jobs on the rocks, and just a few weeks until their deadline, the newly installed CFO turned to his network for recommendations.  They suggested Sallyport, an entrepreneurial Lender that could get their arms around the transaction quickly and execute with certainty.

“We were proud to be able to help this business right their ship and set a solid course towards their destination with all hands on board. It is extremely satisfying that our recommendation came from an experienced private equity CFO who is presently a client. Can there be any better recommendation?” states Nick Hart, President of Sallyport Commercial Finance.

Feeling the pressure of day to day operations and the looming deadline to find another lender, the owners turned to a solution-based finance company that could understand their plight and support their growth.  Sallyport is happy to provide the necessary working capital so the company can continue to expand their services and return to traditional banking, ultimately fulfilling their hopes and dreams of selling the business in the future.

 

 

 

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