cash flow success story - returning to interstate capital
TRANSCRIPT
FactoringServices
Cash Flow Success StoryReturning to Interstate Capital
FactoringServices
Nearly 20 years ago, four men living in a small community in the Midwest decided to launch their own brokerage. Each of them brought years of trucking industry experience to the new business, which they named Superior Brokers. They all shared a vision for a new “family-oriented” company based on friendly customer care, open communications, and good relationships with clients and drivers.
They started by buying four trailers and leasing four tractors. Soon they were ready to expand and they began working with a factoring company. That allowed the business partners to take on shippers with longer payment terms and apply their advances to operating expenses and equipment purchases. Within a few years, they switched to Interstate Capital and their growth accelerated.
Superior Brokers were excellent clients, but the day came when the partners were ready to try a different business model. With their good credit history and extensive collateral, they were able to secure a large loan from a local bank. The company was going along smoothly – until business conditions changed. Now burdened with the stress of paying off the debt at the bank while facing decreased revenues, the owners called Interstate Capital for a solution to their cash flow challenges.
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Interstate Capital’s upper management welcomed them back warmly. They helped Superior pay off their bank loan and extended them more credit than the bank officers were willing to approve. Now, nearly five years after their return to Interstate Capital, Superior owns around 60 power units and leases on with around 15 owner-operators.
Today Superior’s clients range from household names in the food and beverage industry and building materials field to start-up manufacturers and “mom-and-pop” businesses. Superior now factors an average of $800,000 a month – and they are still as friendly and easy to work with as ever.
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People and company names have been changed.
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