Wintrust Receivables Finance (WRF) closed a new $4.7 million accounts receivable line of credit for a growing logistics company that specializes in providing refrigerated freight for the food and beverage industry.

This transaction will provide the company with the larger line of credit they need for growth plans in 2021 and beyond.

“This will make an excellent addition to our growing portfolio of transportation and logistics clients,” said Jason LeuVoy, senior vice president of WRF. “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 the firm with a higher advance rate and lower pricing then its 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 added.