In its second deal for 2024, Sallyport provided an existing client with $2,000,000 accounts receivable finance providing the ongoing working capital required to trade successfully.

The client was originally referred to Sallyport over 3 years ago by a bank and has now restructured after the business was pulled into a CCAA situation by the larger parent company. They needed these funds to ensure that the newly restructured organization has positive cash flow and ultimately is successful.

Managing Director for Sallyport, Calum Williamson, notes the specialized knowledge and experience of Sallyport’s management that helped reshape the business for the future…
“Having worked with this client for three and a half years, our experienced management team understands their business in depth and what the benefits of restructuring would be. We were able to collaborate closely with the trustee and work out a deal agreeable to all which allows us to fund the new entity ongoing.”