Proposal Issued: $5 Million Non-Recourse Facility – Manufacturer of Desserts
This business is growing rapidly and needs cash.
Banks will not fund them as they are not profitable.
We will fund their growth by factoring AR due from major food distributors.
We expect to be refinanced by a bank in 18-24 months.
For more information clehnes@chrislehnes.com | 203-664-1535
Press Release: $5 Million – Non – Recourse – Tech Company
Versant Funding LLC is pleased to announce it has funded a $5 Million non-recourse factoring transaction to a tech company which sells hardware and software to major media companies.\
This private equity sponsored business required a rapid infusion of capital to meet its cash needs through the end of the year. Versant was able to quickly put a factoring facility in place which will provide the company with the short-term liquidity they sought.
“Versant’s offering was an excellent match for this business in need of bridge financing,“ according to Chris Lehnes, Business Development Officer for Versant Funding, and originator of this financing opportunity. “Because our approach to factoring focuses solely on the quality of accounts receivable and does not require an underwriting of our client, we were able to fund this large, complexly organized business faster than any traditional funding source could.”
About Versant Funding
Versant Funding’s custom Non-Recourse Factoring Facilities have been designed to fill a void in the market by focusing exclusively on the credit quality of a company’s accounts receivable. Versant Funding offers non-recourse factoring solutions to companies with B2B or B2G sales from $100,000 to $10 Million per month. All we care about is the credit quality of the A/R.
For more information, contact Chris Lehnes at 203-664-1535 or clehnes@chrislehnes.com
Press Release: $4.5 Million Non-Recourse – MedTech Company
Versant Funding LLC is pleased to announce it has funded a $4.5 Million non-recourse factoring transaction to a MedTech company which provides services to major hospitals and pharmaceutical companies.
This venture capital funded business expects to receive an Employee Retention Credit (ERC) from the IRS in the coming months but was looking for a source of funding to bridge them to that payment. Versant was able to quickly put a factoring facility in place which will provide the company with the short-term liquidity they sought.
“Versant’s offering was an excellent match for this business in need of bridge financing,“ according to Chris Lehnes, Business Development Officer for Versant Funding, and originator of this financing opportunity. “Because our approach to factoring focuses solely on the quality of accounts receivable and does not require an underwriting of our client, we were able to fund this business faster than any traditional funding source could.”
About Versant Funding
Versant Funding’s custom Non-Recourse Factoring Facilities have been designed to fill a void in the market by focusing exclusively on the credit quality of a company’s accounts receivable. Versant Funding offers non-recourse factoring solutions to companies with B2B or B2G sales from $100,000 to $10 Million per month. All we care about is the credit quality of the A/R. To learn more contact: Chris Lehnes, 203-664-1535, clehnes@chrislehnes.com
