Wintrust Receivables Finance provided a $1.5 million credit facility for a trucking company based in Illinois.
The company specializes in hauling dry goods, sheet metal, and general freight, while also providing transloading services.
“After maxing out its commercial bank line of credit, this family-run company had to turn away business,” said Jason LeuVoy, senior vice president of Wintrust Receivables Finance. “This new line of credit should give them the liquidity they need to continue growing.”
The new credit facility provides aggressive advance rates, a flexible covenant-free structure, and is designed to increase in size as the company and its financing needs continue to grow.
“With this line of credit, the company is expecting to nearly double its revenue over the next year,” said John Marrinson, executive vice president of Wintrust Receivables Finance. “We’re excited to see where this new level of financial support takes them.”