Wintrust Receivables Finance Closes $4 Million Line of Credit for Growing Transportation Company

Wintrust Receivables Finance announced the closing of a new $4 million line of credit for a growing third-party logistics company. Wintrust was able to provide the new line of credit at a materially lower cost of capital than the previous lender, with an aggressive advance rate on the accounts receivables collateral and a flexible, no covenant structure. 

The client primarily brokers dry van truckload freight across the lower 48 states and works with large enterprise shippers, with a focus on providing a high level of customer service and satisfaction. Prior to closing the line of credit with Wintrust, the firm was locked into a high cost of capital factoring relationship and did not believe the incumbent lender would be able to scale with its aggressive growth plans. 

 “Over the years, our team has developed a reputation for supporting a number of high growth companies in the transportation and logistics space,” said Jason LeuVoy, senior vice president of Wintrust Receivables Finance. “We believe this client’s management team has what it takes to bring the company to the next level, and we are ready to support them and provide them with the working capital they need to execute their long-term growth plans.”

About Wintrust Receivables Finance

Wintrust Receivables Finance provides aggressively structured working capital lines of credit from $1 million to $50 million for middle market companies around the country that are unable to obtain the level of financing they need through a more traditional commercial bank underwriting.

About Wintrust

Wintrust is a financial holding company with assets of over $45 billion whose common stock is traded on the NASDAQ Global Select Market under the symbol WTFC. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries, with over 180 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units including business units which provide commercial and life insurance premium financing in the United States, a premium finance company operating in Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services and qualified intermediary services for tax-deferred exchanges.

Media contact:

Jason LeuVoy
Senior Vice President
Wintrust Receivables Finance
312-550-3056
jleuvoy@wintrust.com