Trucking company supports growth with a $2M factoring line

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

AT A GLANCE

Industry: Transportation and auto hauling
Location: OK
Company size: ~$900M annual revenue
Reason for applying:
Cash available through factoring: $2M

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PROBLEM: New owner needed working capital

After making an asset-only purchase of a trucking business, the new owner needed to put ambitious plans for growth in motion, but first, he needed working capital. At first, he took out a line of credit against the business’s assets, including its accounts receivable. But he soon realized that factoring could be a more advantageous way to turn this particular asset into cash. 

SOLUTION: A $2 million factoring credit line

The owner searched for factors who had experience in the transportation and auto hauling industries, and chose AR Funding from a list of 15 factors. AR Funding worked with the owner’s bank to subordinate the accounts receivable and make up to $150,000 per month available to his business. 

Now Steve can grow his business as much and fast as he wants as long as he continues to do business with credit worthy customers.

This happy client received financing with help from Gordon Farr, EVP Sales and Marketing. Find out how much cash your company can access through invoice factoring. Talk to us.