Entrepreneur Andy Tait and Texas-based
Sallyport Commercial Finance LLC have partnered to launch a
commercial lender in Scotland, based on St Vincent Place in
Glasgow.
Sallyport Commercial Finance will target companies turning over
up to £10 million.
Mr Tait launched the Scottish arm of Bibby Financial Services in
1999 and most recently, he served as chief executive at GreenAcres
Cemeteries & Ceremonial Parks, having led a private
equity-backed management buyout.
Now, he is launching Sallyport Commercial Finance with fellow
directors Joanna Cashmore and Kirsty Neely - who join from
Bibby and Sonovate respectively - along with senior
executives Allan Dempsie and Michelle Carroll. The team has
over 70 years of sector experience between them.
Sallyport Commercial Finance will provide working capital
solutions to SMEs to assist with their cash flow.
Sectors targeted across the B2B sector include haulage,
manufacturing, and recruitment.
Mr Tait said: "Sallyport Commercial Finance will offer an
alternative to traditional lending provided by the high-street
banks, with an experienced, more personalised and local service.
Invoice Finance can be a great option for many businesses to
free-up working capital and boost their cash flow."