Sallyport Commercial Finance funded a $12 million accounts receivable financing facility and equipment bridge loan for a third-party logistics (3PL) company specializing in warehousing and distribution.
The company required an urgent financing solution after its existing bank decided to exit the relationship, leaving the business with limited time to secure replacement funding. Introduced to Sallyport through an industry broker, the company needed a partner capable of moving quickly while delivering a flexible solution tailored to its immediate and long-term needs.
Working alongside an incoming equipment lender that was unable to complete its financing within the required timeframe, Sallyport structured a bridge loan to facilitate a seamless transition. The facility enabled the company to repay its existing lender while injecting vital working capital to maintain operations, support employees and position the business for future growth. The bridge facility will be repaid once the equipment financing is in place.
From initial introduction to funding, Sallyport completed the transaction in just 40 days, providing the speed and certainty the client needed during a critical period.
“This transaction is a perfect example of how speed, creativity and execution can make a real difference for a business at a critical point in its journey,” Calum Williamson, North American sales manager at Sallyport Commercial Finance, said. “When the company’s incumbent lender made the decision to exit, time was of the essence. Working closely with all parties involved, Sallyport was able to structure and fund a $12 million solution in just 40 days, allowing the business to transition away from its existing lender, stabilize operations, and secure the working capital needed to move forward with confidence. We are proud to have delivered the flexibility and certainty required to help preserve jobs, support ongoing growth plans, and position the business for its next phase of success.”
Nick Hart, president and CEO of Sallyport Commercial Finance, added, “This was a true team effort and a great example of what can be achieved when everyone at Sallyport pulls together behind a client. From the moment we were introduced to the opportunity, our sales, underwriting, legal, operations and leadership teams worked tirelessly to deliver a solution under extremely tight timelines. With an existing lender exiting the relationship and the business requiring immediate access to working capital, there was no room for delay. The team’s commitment, creativity and determination enabled us to structure and close a large facility fast, helping the company transition to a stronger financial footing. I am incredibly proud of the way our people rallied around this transaction and demonstrated the responsiveness and entrepreneurial approach that Sallyport is known for.”
