Wintrust Receivables Finance Closes $4,000,000 Line of Credit for a Fast-growing VC-backed Logistics Company
June 6, 2022
Source: Wintrust Receivables Finance
Wintrust Receivables Finance (WRF) is happy to announce the closing of a new $4,000,000 account receivable line of credit for a Southwestern-based logistics company. The company was founded over two years ago by highly respected veterans of the freight tech industry, generating a modest amount of revenue while they developed their proprietary technology platform. With the tech now ready to go to market, the firm recently received its initial round of VC funding, and is embarking on a plan of aggressive growth while continuing to refine and improve their platform.
Prior to growing the business, management wanted to have the support of a lender who would be able to quickly scale the level of working capital financing support.
According to Wintrust Receivables Finance Senior Vice President Jason LeuVoy, “We expect to see great things from this client in the years to come given the combination of the impressive management team, the technology platform, and the VC support.” LeuVoy added “The WRF team has a long track record of financing earlier stage high-growth firms, and we think this transaction will make another excellent addition to our portfolio of transportation and logistics clients.”
In addition to the new line of credit the WRF team is also providing a full suite of Treasury Management products and services.
For more information please contact Jason LeuVoy at 312-550-3056 or jleuvoy@wintrust.com.
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 $50 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 providing service-based community banking to every customer. Wintrust operates fifteen community bank subsidiaries, with over 171 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units.
