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Wintrust Receivables Finance Announces Closing of a New $10 Million Line to Support Growing Logistics Firm
September 10, 2019
Source: Wintrust Receivables Finance
Wintrust Receivables Finance is pleased to announce the closing and funding of a $10 million credit facility for a logistics firm based in Chicago. The firm was recognized in the 2018 Inc. 5000 as one of the fastest growing companies in the country. Due to its aggressive expansion, the company had outgrown its previous banking relationship and was looking for a bank that could support its future growth plans.
“With our home office in Chicago, and our senior management team’s 40 plus years of combined experience providing working capital financing to transportation and logistics firms, Wintrust Receivables Finance is uniquely positioned to support the transportation and logistics industry,” said John Marrinson, executive vice president of Wintrust Receivables Finance. “This client’s focus on leveraging technology to create operational efficiencies really sets it apart from others in the industry. We look forward to partnering with the team and helping them achieve their growth and business objectives.”
Jason LeuVoy, senior vice president of Wintrust Receivables Finance, said, “We are happy to welcome this new client to the portfolio. The company’s senior management has laid a solid foundation for growth, and we are excited to see what they can achieve over the coming years.”
Wintrust is a financial holding company with assets of approximately $33 billion whose common stock is traded on the Nasdaq Global Select Market. 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 160 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.
For more information, please contact:
Senior Vice President and National Head of Originations
Wintrust Receivables Finance