Sallyport Finance offered $2.0 million in accounts receivable and purchase order financing to a growing clothing company.
Sallyport already had a valuable connection with the customer and had previously helped them with specialised financial services, so they had no hesitations in returning when they found themselves in need of finance and a letter of credit in order for their suppliers to give their go ahead.
During the COVID-19 epidemic, the client shifted into the PPE sector and will utilise these monies to sustain and develop their PPE product line, as well as restore their footwear and handbag distribution brand.
“The firm was seeking for a PO financing solution that would allow them to obtain orders from an overseas manufacturer and put them in a position to comfortably accept larger orders of their PPE line from old and new clients.”
“The firm was seeking for a PO financing solution that would allow them to obtain orders from an overseas manufacturer and put them in a position to comfortably accept larger orders of their PPE line from old and new clients.””
The Sallyport staff was sympathetic to their position, and we developed a working capital solution that allowed new contracts to be fulfilled on time,” said Nick Hart, President, Sallyport Commercial Finance.
