Newsroom
Oil and Gas Company Regroup with $1,750,000 Capital
Sallyport are delighted to announce $1,750,000 in accounts receivable finance for an oil and gas company in the US.
The client was referred to Sallyport through an existing client in the energy services space who were more than happy to recommend our services. We secured the business through our clients’ strong connection with the prospect and their ongoing relationship with Sallyport EVP Emma Hart.
The pandemic resulted in some cash flow challenges for this business as they saw income dropping and profitability taking a downward turn. They also want to be able to acquire several new contracts which they were unable to until liquidity improved. The injection of working capital will allow them to commit to these new contracts and subsidize the losses incurred during COVID until they regain profitability.
In the longer term, the client hopes to adjust their structure to allow one of the owners to take greater control of the company and grow their revenue to $25M a year.
James Bartel, Senior VP for Sallyport, is grateful for satisfied clients whose positive experience leads them to endorse Sallyport, our services and team…
“It is always great to have a client recommend us to their industry peers based on a resoundingly positive experience. We’ve helped many businesses in the oil and gas sector this year and I am sure this one will be no different – they are well equipped now and will show a vast improvement in their business in the coming months and we look forward to seeing it!”
Search
News
Articles
Commercial Real Estate Finance and the Prolonged Pandemic
Commercial real estate comprises very different economic sectors which have so far been very disparately impacted by the pandemic –…
Read MoreGet to Know Caitlin Foote in our Employee Spotlight
What would you rate 10 / 10? Always ordering three beverages at once. One for hydration, one with caffeine and…
Read MoreVideos
AG Machining Client Testimonial
AG Machining Client Testimonial
View NowAmerican Business Women’s Day
Sallyport Commercial Finance Celebrates American Business Women’s Day
View Now