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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.

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