The Accutrac Capital Group of Companies expanded its regional territories with the addition of a new subsidiary in Utah. Centered in Park City, Accutrac Transportation Factoring Inc. is positioned to be in close proximity to the company’s growing number of western based customers.
Transportation finance expert, Eric Myers has taken the helm as Managing Director. This addition further augments Accutrac’s market position as leading freight factoring company.
Myers has accumulated over 20 years of transportation financing. His primary career focus has been to provide working capital solutions to the trucking industry. Holding a bachelor’s degree in Business Administration and an MBA in Marketing, Eric advanced his professional career by serving several roles and responsibilities in the commercial banking sector, alternative financing companies and in the trucking industry. This exposure to varied tasks and disciplines has helped Eric to develop a unique set of job skills ideally suited for the position he now undertakes.
“Accutrac Capital is a freight factoring company built on industry experience and solid business principles” explains Charles Sheppard, President of Accutrac Capital. “Our primary focus is to provide fast, reliable funding to undercapitalized trucking companies. To ensure best value, we back up service with industry best rates, world class customer service, transparency and cost saving services. In order to deliver this high standard consistently and reliably, Accutrac Capital continues to grow the organization with experience and talent. Eric Myers is a tremendous addition to the team.”
Myers developed a commitment to providing valued service solutions to meet customer needs early in his career while selling and managing consumer lending products. Shortly thereafter, he entered into the trucking industry, providing fleet fuel and related services to trucking companies across the nine western states. Since 2001 his focus has been to work with the trucking industry in providing financial services, crossing paths from the commercial banking sector into alternative financing.
Throughout his career, Eric developed an appreciation of the industry specific financial burdens that challenge fleet owners. Trucking is a capital intense industry, requiring daily access to working capital in order to sustain operations. The daily challenge to meet fiscal obligations is a constant burden that occupies the minds of fleet owners each and every day. In too many cases, freight carriers and brokers recognize the need for improved cash flow in the face of an imminent and often urgent financial obligation. A typical scenario involves a fleet owner seeking an operating line of credit from a commercial bank only to discover that traditional lenders regard the trucking industry as volatile and unstable. Most trucking companies fail to meet the restrictive qualification requirements and lengthy due diligence process that preludes a lending agreement.
The recent rise in alternative financing has greatly alleviated the financial stress faced by transportation companies. Despite freight factoring becoming a mainstream financial strategy to improve cash flow, it remains an unfamiliar option to many truck company owners. Selecting the right financial provider to partner with and the best funding option to choose can be an overwhelming task. Conversing with a reputable advisor, fully acquainted with the industry specific challenges of transportation financing is a prudent starting position. Eric Myers has the financial background and trucking knowledge to clearly outline the distinct advantages of freight factoring in easy relatable terms to owners of trucking companies.