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Versant Funding Provides $900,000 Non-Recourse Factoring Facility to PPE Distributor

May 10, 2021, 07:00 AM
Filed Under: Distribution

Versant Funding funded a $900,000 non-recourse factoring facility to a distributor of PPE including, facecoverings, hand sanitizer and wipes.This recently formedcompany was experiencing increasing demand for its product line and  required access to working capital to continueto meet customer expectations.

“Versant’s offering was an excellent match for thisnewbusinessin need of liquidity," according to Chris Lehnes, Business Development  Officer  for  Versant Funding, and originator of this financing opportunity. “Because we are  strictly focused on the quality of our client’s accounts receivable and do not underwrite their  business, the fact that this company had little track record or industry experience was not significant to us. Their strong customer base was enough for us to quickly approve and fundthe company.”

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