Versant Funding Completes $4.8MM Non-Recourse Factoring Transaction for Commercial Bakery
August 4, 2023 | 1 min to read
Versant Funding facilitated a $4.8 million non-recourse factoring transaction for a commercial bakery that supplies major grocery chains. The bakery, a closely held business, aims to expand by reaching new supermarket customers; however, slow invoice payments risk its cash flow. Versant's factoring solution provides the necessary cash advance against invoices, effectively addressing this financial challenge. To read the rest of the story, please visit Monitor Daily.
Versant Funding funded a $4.8 million non-recourse factoring transaction for a commercial bakery that serves major grocery chains.
The client is a closely held business that has the opportunity to expand by selling its products to additional supermarkets; however, many of these potential new customers may pay their invoices slowly, negatively impacting the cash flow of the business. This is a problem Versant’s factoring offering can solve by advancing cash against invoices.
To read the rest of the story, please go to: Monitor Daily