Transportation company sustains growth with a $2 million factoring line
AR Funding is proud to welcome this transportation and final-mile logistics service company as one of its newest clients.
AT A GLANCE
Company size: ~$3.7 million annual revenue
Reason for applying: Significant company growth
Cash available through factoring: $2 million
PROBLEM: Rapid growth required faster cash flow
Led by a distribution and logistics expert with 20 years of experience, this transportation company has carved a rewarding niche for itself by using advanced tracking and logistics technology to ensure that shipments of all types reach their final destination in homes and businesses across Southern Florida.
As their reputation grew, so did the demand for their services and the size of the contracts they were winning. Suddenly, they were in the enviable position of growing quickly, but sustaining that growth would require a massive injection of cash.
SOLUTION: $2 million factoring credit line
With no fixed assets to leverage, the company couldn’t access the cash they needed through traditional bank loans or lines of credit. They approached AR Funding to find out whether invoice factoring could help, and soon negotiated a $2 million factoring line that will help them fund payroll for their fast-growing team of contract couriers.
After seeing their sales skyrocket from $1.8 million to $3.7 million in just one year, they are now in a position to maintain this impressive growth trajectory and continue growing the business in terms of revenue and profitability.
This happy client received financing with help from Darren Wright, Regional VP, Central Region. Find out how much cash your company can access through invoice factoring. Talk to us.