Trucking company was stuck in the mud until we advanced the funding they desperately needed!
A trucking company in Texas was maxed out on their line of credit with their current bank. This bank also made it very clear that they would not be extending them any more credit beyond the amount they had already.
This was crushing their hopes of expansion because without more credit they could not purchase any more trucks or trailers to secure more contracts. Unfortunately, trucking is a very capital-intensive industry so when you don’t have a reliable credit facility your chances of expansion become almost impossible.
We were able to advance them a $5 Million revolving asset-based line of credit (ABL) established on their accounts receivable and inventory at Prime Plus 2. They now have the power to make things happen again and take on those clients they so desperately needed.
We Won't Waste Your Time
Let me be blunt. Here at Ivanhoe Capital, we structure deals to close and we don't waste you or your client's time. We want to get deals done and if we can't, we let you know RIGHT AWAY and WHY!