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Sallyport Provides $2.1MM Financing for Commercial Laundry Services Company

December 10, 2021, 07:00 AM
Filed Under: Specialty Industries

Sallyport provided $2,100,000 in combined accounts receivable and equipment financing will enable a hospitality services supplier to make a crucial acquisition, cover their payroll costs and free up working capital to invest into new equipment.

The client was referred to Sallyport via another client and we were able to successfully convey the value of our services to their business and our willingness to come up with a tailored solution that worked for them.

$1.75 million in accounts receivable funding and $350,000 in equipment finance will lay the foundation for the client to achieve their long-term goals of further expansion and acquisition coast-to-coast in the US.
Nick Hart, Sallyport President commented, "After an extremely challenging time in the laundry sector, we were delighted to help our client make a key business acquisition. We will be there, by their side to help with the opportunities and challenges presented in 2022 and beyond. We look forward to seeing them grow and thrive through our partnership."

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