Logistics company bridges the gap with a $1.5M factoring line

AR Funding is proud to welcome this trucking and warehousing company as one of its newest clients.

AT A GLANCE

Industry: Trucking
Location: SC
Company size: ~$7 Million annual revenue
Reason for applying: Temporary cash shortfall
Cash available through factoring: $350K/month

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PROBLEM: Economic downturn creates a cash shortfall

Founded in 1999, this trucking and warehousing company provides freight pick-up and delivery services to enterprise import and export customers. 

The company has enjoyed steady growth for nearly two decades, with 2022 its highest-earning year to date. However, in 2023, a business downturn coupled with significantly higher expenses, including a jump in warehouse rental costs., left them short of the funds needed for working capital and to secure their customs bond. 

SOLUTION: $1.5M factoring credit line

The owner had used factoring at various times in the past, but didn’t like the administrative burden or the lengthy contracts involved. However, AR Funding offered a simplified, online process for submitting invoices along with flexible, low-commitment contracts of as little as three months. 

The company can now access up to $350K per month to help them bridge their cash shortfall for as long as they need it.  

This happy client received financing with help from Crawford Reeves, Regional VP, Southeast Region. Find out how much cash your company can access through invoice factoring. Talk to us.