Pacific Mercantile Bank‘s Asset-Based Lending Group extended an $11 million credit facility to NEXT Trucking to support the company’s continued growth.
Based in Lynwood, CA, NEXT Trucking offers an online trucking marketplace and app designed for shippers, dispatchers and owner-operators. The apps allow drivers of small- and medium-sized trucking companies to connect directly with shippers searching for efficiency, transparency and competitive pricing.
“As we continue to revolutionize the logistics industry, we needed a bank that had the flexibility and financial strength to support our business plan,” said Lidia Yan, CEO of NEXT Trucking.
“NEXT Trucking has created a disruptive technology that is bringing improved efficiency and pricing to the logistics marketplace,” said Tom Vertin, president and CEO of Pacific Mercantile. “This is an exciting time for NEXT Trucking, and we look forward to supporting the company’s efforts to modernize the logistics industry.”
