Wintrust Receivables Finance closed a $15 million accounts receivable line of credit for a Southwest-based third-party logistics firm. The company focuses on full truckload freight for enterprise shippers from across the U.S.
The company was founded in early 2021 by a number of transportation industry veterans. At the time the company was introduced to Wintrust Receivables Finance, it was concerned that its incumbent bank would not have the ability to provide the level of working capital support the company would need to execute its 2023 plan and beyond. The new $15 million line is more than double what the previous bank was able to provide. In addition to the new line of credit, the Wintrust Receivables Finance team is also providing a full suite of treasury management products and services.
“We have been very impressed with the leadership team and their ability to scale quickly and execute their vision, all while providing a high level of customer service to their Fortune 500 client base,” Jason LeuVoy, senior vice president of Wintrust Receivables Finance, said. “Our group has a long track record of financing high-growth logistics firms, and we look forward to partnering with this team for many years to come.”
