Versant Funding is pleased to announce it has funded a $4.8 Million non-recourse factoring transaction to a commercial bakery which serves major grocery chains.

Versant’s newest client is a closely held business which has the opportunity to expand by selling their products to additional supermarkets, but many of these potential new customers will pay their invoices slowly, negatively impacting the cash flow of the business. This is a problem Versant’s factoring offering can solve by quickly advancing cash against those invoices.

“Versant’s non-recourse factoring program is a great fit for this growing business which needs cash in order to expand,“ according to Chris Lehnes, Business Development Officer for Versant Funding, and originator of this financing opportunity. “Because our approach to factoring focuses solely on the quality of accounts receivable, for a business like this with a very strong customer base, we are able to provide an elastic credit facility which can grow as the AR levels of the business increase.”