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
Accounts Receivable Factoring
$100,000 to $30 Million
Quick AR Advances
No Long-Term Commitment
Non-recourse
Funding in about a week
We are a great match for businesses with traits such as:
Less than 2 years old
Negative Net Worth
Losses
Customer Concentrations
Weak Credit
Character Issues
Contact Chris Lehnes | Factoring Specialist | 203-664-1535 | chris@chrislehnes.com