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
Q4 2025 Funding Highlights
What a fantastic Q4 for us and our new clients! We’ve been busy funding more businesses across the UK and…
Read MoreQ3 2025 Funding Highlights
What a fantastic Q3 for us and our new clients! We’ve been busy funding more businesses across the UK and…
Read MoreArticles
Asset-based Lending – Fact or Fiction
Asset-based lending has been around for a long time and is a very popular way to improve working capital for…
Read MoreDiminished Bottom Lines: National Minimum Wage Increase 2024
On April 1st 2024, the National Living Wage (NLW) and National Minimum Wage (NMW) will again increase in the UK.…
Read MoreVideos
What is Factoring?
Here we explain what exactly factoring is and how we can help your cash flow…
View Now