Sallyport Commercial Finance has doubled the size of its team since launching in Glasgow last year and expects to double that figure again this year.
During its first year operating in Scotland, the North American-founded commercial lender has given out £4.4m across a variety of UK industries.
It now plans to open a new permanent base in England to accommodate expanding operations – and aims to triple client-funded turnover in the next 12 months.
Targeting sectors such as haulage, recruitment, manufacturing and healthcare, Sallyport has extended its reach throughout Northern Ireland, Scotland and England.
Managing director Andy Tait 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, chief executive 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.”
In the last 12 months, Sallyport has funded more than £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.
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