Sallyport have expedited the expansion of an Ontario advertising company this week with $250,000 in accounts receivable financing. The funds will be used by the client to service their ongoing working capital requirements whilst giving them the additional capacity they require to grow the business into new markets.
Dan Millar, Vice President for Sallyport Canada comments…
“As many industries are experiencing, the client’s debtors were taking much longer to pay and this caused them to experience a cash crunch. It sometimes takes just one debtor to delay payment for a company to feel the impact in their cash flow and become frustrated as growth is hampered. These funds release valuable working capital for the business to use in expanding their operations throughout the province. The client was also excited by our capabilities in managing their back office receivables, which gives them the time to concentrate on their growth free from the administrative burden.”
We’re excited to work with this fantastic Canadian business and see what the next stages of growth bring for them.
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