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Wintrust Receivables Finance Closes New $4.5MM Line of Credit Managed Transportation Company

July 07, 2022, 07:18 AM
Filed Under: Transportation

Wintrust Receivables Finance (WRF) closed a new $4,500,000 account receivable line of credit for a fast growing managed transportation company. The east coast based firm specializes in managing the in-bound and out-bound freight for a number of middle market manufactures, and distributers around the country. 

In the past 12 months, they’ve grown revenues by nearly 400% and needed a larger and more flexible line of credit to support their continued growth. The availability provided by the WRF line of credit will allow the company to continue their growth trajectory without having to raise outside capital and dilute the current ownership team. In addition to significantly increasing the size of the company’s working capital line of credit, WRF is also providing a full suite of Treasury Management products and services.

“The growth this team has achieved over the last year has been amazing. We feel it shows the value the company is providing to the market by using advanced analytics and data to maximize their client’s freight spend,” says Jason LeuVoy, Wintrust Receivables Finance Senior Vice President. “This transaction will make an excellent addition to our growing portfolio of transportation and logistics clients. We believe that our flexible and aggressively structured line of credit will give the management team the financial support they need to continue their growth.

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