Bibby Transportation Finance (BTF) announced a $500,000 factoring facility for 3A Express, a Michigan-based transportation company specializing in over-the-road (OTR) and refrigerated trucking. 3A Express holds contracts with some of the top shipping companies in the United States. Based on the advance of funds against accounts receivable, the factoring facility will support 3A Express’ day-to-day operating costs and enable the company to increase the number of refrigerated trucks in its fleet. 

3A Express expects to earn around $12 million in annual sales once all 50 trucks in its fleet are deployed. BTF’s in-depth transportation finance experience allows 3A Express to access the quick, flexible funding it needs to take advantage of its recent growth and serve more customers across the U.S. as it increases the number of drivers it employs. The financing also has the added benefit of helping 3A Express more easily manage this growth by simplifying operations through dedicated back-office support.

“The extraordinary team of transportation experts at BTF have years of experience working with all types of freight carriers,” said 3A Express owner David Lumsden. “The ability to receive same-day financing and access to the team’s in-depth expertise in the equipment sector made BTF a natural financing partner as we looked to expand our refrigerated trucking business.”

“At BTF we’re proud to work with growing companies like 3A Express and are committed to providing the ease and speed of funding our clients desire,” said Mary Ann Hudson, executive vice president of Bibby Transportation Finance. “We created a creative and flexible financing package for 3A Express that can be used to cover short-term operating costs, like fuel and insurance, while also taking into account their long-term goals.”

In 2016, BTF delivered financing solutions to 109 new clients. BTF specializes in supporting the growth of transportation companies of all sizes, from single owner-operators to small and medium sized trucking companies, as well as freight brokers. The financing solutions provided by BTF are tailored to the needs of each client and include additional benefits like fuel cards, hotel discounts, a free load board, complimentary credit reports for prospective debtors, online invoicing and 24/7 online account access. Bibby Transportation Finance is based in Nashville, Tenn. and is a subsidiary of Bibby Financial Services, Inc.