TSL Express Daily News

Wintrust Receivables Finance (WRF) is happy to announce the closing of a new $15 million account receivable line of credit for a Southeast-based, third-party logistics firm. The company focuses on full truckload freight for enterprise shippers from across the country. The company was founded in late 2021 by a number of transportation industry veterans. The firm has shown a significant amount of topline growth over the last 24 months, driven by its ability to provide industry-leading customer service to numerous Fortune 500 firms. After growing in excess of 400% during 2022, the company is projecting more than 50% growth in 2023.

At the time the company was introduced to WRF they were concerned that their incumbent bank would not have the ability to provide the level of working capital support they would need to execute their 2023 plan and beyond. The new $15 million line is more than double what the previous bank was able to provide. With the larger WRF line in place, the company’s management feels they have access to the working capital they need to execute their growth plan.   Since the closing of the WRF line, the firm has also added, via acquisition, an asset-based trucking operation. In addition to the new line of credit, the WRF team is also providing a full suite of Treasury Management products and services.

According to WRF Group Senior Vice President Jason LeuVoy, “We have been very impressed with the leadership team, and their ability to scale quickly and execute their vision, all while providing a high level of customer service to their client base.” LeuVoy added, “Our group has a long track record of financing high-growth logistics and asset-based trucking firms, and we look forward to partnering with this team for many years to come.”

About Wintrust Receivables Finance

Wintrust Receivables Finance is a division of Wintrust Bank N.A. Wintrust Receivables Finance provides aggressively structured working capital lines of credit from $2 to $50 million for middle market companies around the country who 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 approximately $53 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 170 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:

Jason LeuVoy

312-550-3056

jleuvoy@wintrust.com