Versant Funding recently closed a $1 million factoring facility for a toy manufacturer based in New England. The company had an immediate need for cash to pay a key supplier otherwise they would be unable to meet their shipping deadline on several large purchase orders. Due to the seasonality of the business they needed access to the full $1,000,000 within 5 days.
The Non-Recourse Factoring Facility provided by Versant Funding allowed the company to meet its shipping window and continue its growth.