FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / News / Read News

Print

Sallyport Provides $2MM PO Finance Facility for Expanding Apparel Business

June 23, 2021, 06:00 AM
Filed Under: Apparel

Sallyport provided $2.0 million in accounts receivable and purchase order finance for an expanding apparel business.

Sallyport already had a valued relationship with the client and had previously supported them with tailored financial services, so they had no doubts about returning when they found themselves in need of funding and a letter of credit in order for their suppliers to release their goods for shipping to the U.S.

The client pivoted into the PPE market during the COVID-19 pandemic and will use these funds to maintain and grow their PPE product line and rebuild their brand of footwear and handbag distribution.

“The company was looking for a PO financing solution that would enable them to secure orders from an overseas manufacturer and put them in a position where they can confidently accept larger orders of their PPE line from clients old and new.”
The Sallyport team were understanding of their situation and we structured a working capital solution that enabled the timely fulfillment of new contracts,” said Nick Hart, President, Sallyport Commercial Finance.






Week's News



Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.