Versant Funding funded a non-recourse spot factoring transaction to a Mid-West-based software provider. This company is in  the process of completing a  sale to a  private equity group and required cash quickly to meet its working capital needs until the sale is complete. They requested Versant factor a  single invoice  due  from  a large,  multinational  food producer.

“Versant’s offering was an excellent match for thisbusinessin  need  of quick liquidity.“ according  to  Chris  Lehnes,  Business  Development  Officer for  Versant Funding,and originator of this financing opportunity. “Because  we  are  strictly focused on the quality of our client’s accounts receivable and do not underwrite their  business, we  were  able  to  fund  in  about a  week  from  our  first  conversation with management.”