Situation
Versant Funding recently closed a $7,500,000 factoring facility for an ocean cargo transportation company. The company’s equity investment was taking longer than anticipated creating a dangerous cash flow shortage.
Success
Versant's non-recourse factoring facility will serve as a bridge while the company works to close on an equity infusion. Versant's ability to fund the deal quickly, despite heavy concentrations, gave the company peace of mind to continue its normal operations while they wait for the equity funding to close.