Funding for the Future
A metal fabricator encountered cash flow problems caused by large orders from several of its most important customers. In addition, the company had multiple liens on its assets.
Versant provided a $3.5 million factoring facility that enabled the company to quickly fill its order backlog. We further arranged for another lender to be paid off. The new factoring facility gave the client the ability to meet larger orders from its most important customers, providing a solid foundation for future growth.