PRESS RELEASE

Versant Funds $1.8 Million Non-Recourse Factoring Transaction to Administrator of Adolescent Group Homes – Versant Funds Administrator

(October 14, 2024)  Versant Funding LLC is pleased to announce it has funded a $1.8 Million non-recourse factoring transaction to a company which administers group homes for adolescents who are victims of neglect and abuse. Versant Funds Administrator.

This newly formed business has relationships with State and County organizations to house children in need.  These entities tend to pay their invoices slowly, putting a financial strain on the business. Versant was able to quickly put a factoring facility in place to advance cash against those invoices, which will provide the company with the liquidity needed to expand into additional counties. Versant Funds Administrator.

“Versant’s offering was an excellent match for this newly formed business in need of  growth 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 that would not meet the credit standards of most traditional lenders.”

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