Wintrust Receivables Finance closed a new $4.7 million accounts receivable line of credit for a logistics company that specializes in providing refrigerated freight for the food and beverage industry. This transaction will provide the company with a larger line of credit to support growth plans in 2021.
“This will make an excellent addition to our growing portfolio of transportation and logistics clients,” Jason LeuVoy, senior vice president of Wintrust Receivables Finance, said. “We believe our flexible and aggressively structured line of credit will give this seasoned management team the working capital support they need to grow the business.”
In addition to increasing the size of the company’s working capital line of credit, the new line also provides a higher advance rate and lower pricing then the company’s previous lender.
“We’re impressed by how the client’s management has navigated the various challenges in the domestic freight market brought on by the COVID-19 pandemic, and we’re proud to be part of its continued growth,” LeuVoy said.
Wintrust Receivables Finance provides working capital lines of credit from $1 million to $50 million for middle market companies.
