UMB Capital Finance, utilizing its accounts receivable finance business channel, provided a $20 million credit facility increase to an existing client, SOAR Transportation Group, to assist in funding several acquisitions as well as for general working capital purposes.
SOAR finalized its acquisitions during July and August 2020 and divided the combined business into two distinct legal entities: SOAR (company assets and independent contractors) and Network Transport Holdings (asset light and logistics). Network Transport Holdings also acquired Network Transport and Robert Heath Logistics.
Additionally, SOAR, which acquired Robert Heath Trucking, expanded its network coverage and doubled its fleet size to 450 tractors.
UMB Capital Finance offers working capital solutions and financing solutions, including asset-based loans, accounts receivable financing and factoring, as well as mezzanine debt and minority equity interests. UMB Capital Finance services companies with borrowing needs up to $30 million.
