Porter Capital, a company in specialty financing solutions, provided a $15 million credit facility for a newly-established entity in the transportation and freight services industry headquartered in Georgia. The client, with nearly a century of operational history and a strong presence in the Midwest, required innovative financing to support its transition after forming a new LLC to acquire a division of a publicly traded Fortune 500 company.
“This deal was unique in that it involved an entity with no historical financials or field exam to review, basically a startup,” Andy Dillard, senior vice president and business development officer at Porter Capital, said. “We competed with several other lenders, but our ability to make quick decisions and provide a tailored solution on a tight timeline set us apart. It’s a testament to our commitment to serving the unique needs of businesses in the transportation sector.”
“This transaction highlights our flexibility and speed in addressing complex financing challenges,” Marc Porter, CEO of Porter Capital, said. “Our ability to move quickly and originate a large credit facility for a startup with no historical financials demonstrates why Porter Capital continues to be a trusted partner for businesses nationwide. We’re proud to play a role in helping this company achieve its operational goals and maintain its legacy in the transportation industry.”
