Sallyport Commercial Finance eyes ambitious growth after £4.4m first year success
Sallyport Commercial Finance is poised for significant growth in 2024, capping off a successful first year with £4.4m in funding across key UK industries.
The company has doubled its team since inception and expects to increase its team by a further 50% this year. It plans to open a new permanent base in England to accommodate its expanding operations and aims to triple its client-funded turnover in the next 12 months.
Launched in Glasgow last year, Sallyport Commercial Finance is a commercial lender that backs small businesses and provides vital cashflow support.
Targeting sectors such as haulage, recruitment, manufacturing and healthcare, Sallyport has extended its reach throughout Northern Ireland, Scotland, and England.
Andy Tait, managing director at Sallyport Commercial Finance, said: “As businesses continue to feel the financial squeeze of soaring energy prices, the ongoing impact of Brexit and the cost-of-living crisis, we’ve seen first-hand the positive impact Invoice Financing has had on businesses by freeing up working capital and boosting cash-flow.
“Our very first client, Harmony Healthcare, has doubled its turnover with our support, enabling the company to create 110 new jobs in the home care sector. It has been gratifying to see such positive impact in our first year of trading, and we look forward to helping even more businesses as we expand our operations in 2024.”
Rajesh Doshi, CEO of Harmony Healthcare said: “With Sallyport, we’ve not only found financial stability but also peace of mind. Their commitment to understanding our unique needs and providing tailored solutions has played an integral role in the continuous growth of Harmony Healthcare.
“To any business searching for a factoring service that is both efficient and understands the intricacies of your operations, I wholeheartedly recommend Sallyport. They’ve been a game-changer for us.”
In the last 12 months Sallyport Commercial Finance has funded over £22m in client invoices.
As Sallyport marks the 10th and 5th anniversaries of its US and Canadian branches, the group’s total funding exceeds £100m.
