Express Freight Finance has launched nationwide freight-bill factoring services for fleets, owner-operators, and freight brokers.
“Small carriers and brokers would rather focus on moving freight and growing their business than managing receivables and collections,” said Dan Hadley, CEO of Express Freight Finance, based in Bountiful, Utah. “Because we’re 100% dedicated to trucking and understand the realities of the business, we have committed resources that allow us to deliver a funding decision in minutes and cash as quickly as that day.”
The business is backed by $30 million in initial capital from Washington, D.C.-based Adelphi Capital, the statement said.
Hadley had been senior portfolio manager for Summit Financial Resources. Brent Gottlieb, executive vice president of sales and marketing, previously worked at factoring businesses, including Phoenix Capital, DB Squared, and Olympic Credit Fund.
In its statement, Express Freight said its services include prompt underwriting, decisions and documentation, online services, daily funding and services of a dedicated account manager.