Glasgow-based commercial lender Sallyport Commercial Finance said it is poised for significant growth in 2024, capping off a successful first year with £4.4 million of funding across key UK industries.

Launched in Glasgow last year, Sallyport is a commercial lender that backs small businesses and provides cashflow support.

Targeting sectors such as haulage, recruitment, manufacturing and healthcare, Sallyport has extended its reach throughout Northern Ireland, Scotland and England.

Sallyport Commercial Finance MD 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.”

Harmony Healthcare CEO Rajesh Doshi 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.”