Sallyport Commercial Finance announced $1,750,000 in financing for an office furniture manufacturer. Manufacturing high quality office furniture from their factory in LA, the client was referred to Sallyport via a contact in the banking industry.

The finance comprises $1,500,000 accounts receivable finance and a $250,000 cash flow loan. In the immediate term, the funds will enable them to purchase key components for equipment which is otherwise complete, and in the longer term they are developing a range of entry-level products which they will be selling into warehouse retail and targeting towards the federal government going forward.

Senior VP for Sallyport, James Bartel, said it was Sallyport’s ability to work quickly and efficiently that secured the business and is pleased to have been able to support the client’s growth following a difficult few years for them…

“Our prospect had multiple challenges including recent losses but with huge potential for growth given the right solution to their working capital challenges. The firm brought in a veteran CFO and he identified financing as a key area for the company.”

The CEO for the client commented, “Sallyport worked well to provide timely funding for our company. We are in rapid growth mode and needed materials to accomplish this growth. We are so far pleased with Sallyport’s performance.”