Versant Funds $3MM Non-Recourse Factoring Facility to Housewares Designer & Distributor
March 25, 2025 - Versant Funding LLC is pleased to announce it has funded a $3 Million non-recourse factoring facility to a company which designs and distributes housewares through major grocery and retail channels. This business was having trouble fulfilling new orders due to funding restrictions put in place by their current factoring company. An advance against all outstanding accounts receivable was needed to provide the cash to meet product demand and that is what Versant was able to offer. In addition, Versant was able to pay off and consolidate a number of other loans that had been taken out by the business.
“Versant’s factoring program was a great match for this business that was continuing its recovery from pandemic-era disruptions,“ 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 without imposing customer- concentrations limits, we were able to provide our new client more funding than their existing factor, allowing the business to better serve its customers.”
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@VersantFunding.com