Wintrust Receivables Finance (WRF) closed a new $15,000,000 account receivable line of credit for a Midwest based transportation broker. The company focuses on full truckload freight for companies in the food and beverage vertical. The company’s customer list includes multiple fortune 500 firms. They have experienced over 50% growth in revenue during 2021 and are projecting to nearly double revenue during 2022.  

The company was concerned that their incumbent bank would not have the ability to provide the level of working capital support they would need to execute their 2022 plan.  The new $15,000,000 line is more than double what the previous bank was able to provide. With the larger WRF line in place, their management team feels they have access to the working capital they need through 2022 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. 

“We have been impressed with how this company has been able to grow their revenue year over year with their fortune 500 client base,” says Wintrust Receivable Finance Senior Vice President Jason LeuVoy. “This level of organic growth with these enterprise shippers demonstrates the high level of service they are providing to the market place. The WRF team has a long track record of financing high-growth firms, and we think this transaction will make another excellent addition to our portfolio of transportation and logistics clients,” he added.