Wintrust Receivables Finance (WRF) closed a new $3.5 million accounts receivable line of credit for a Midwest-based third-party logistics company.
Prior to moving to WRF, the company had funded its working capital financing needs through the initial equity investment of the CEO. The new WRF facility will give the company the additional liquidity the company needs to continue its growth plans in 2024 and beyond. In addition to the new line of credit, the WRF team is also providing a full suite of treasury management products and services.
“Our team has known the CEO for several years through a number of mutual contacts in the logistics space. Given his track record and the company’s early success, our team was happy to get involved at this early stage to play our part in the company’s future growth plans by delivering a flexible and aggressive working capital financing structure,” Jason LeuVoy, head of originations at Wintrust Business Credit, said. “The WRF team has a long track record of supporting the working capital financing needs of companies in the logistics industry during multiple industry cycles, and we think this transaction will make another excellent addition to our portfolio of transportation and logistics clients.”
