Accutrac Capital, a specialized factoring company focused exclusively on the trucking industry, acquired the portfolio assets of Sienna Transportation Finance, a New Jersey-based freight factoring company.
Accutrac will retain six members of Sienna’s back office to provide a smooth transition to former Sienna clients. In conjunction with the acquisition, Accutrac also opened its newest regional office in Paramus, NJ, establishing a presence on the eastern seaboard to compliment the company’s existing California locations.
“Our customers are trucking companies and freight brokers from most of the country’s 50 states and Canada,” said Accutrac President Charles Sheppard. “Until recently, our regional offices have been limited to the western and northern territories. The New Jersey office now positions Accutrac closer to our East Coast customers.”
Accutrac Capital provides flat fee factoring, a funding option that ensures same day funding at the industry’s lowest rate and starts at 1.59% for 90 days all-in. Accutrac also offers free unlimited credit checks and a fuel discount program.