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Advantage Capital announced a $3.37 million investment in Richland, Miss.-based Capital City Trucking.
It follows an initial investment earlier in 2019, which allowed the freight company to triple employees and pursue significant growth opportunities.
Capital City Trucking specializes in the transportation of goods across the United States for large food suppliers.
The latest round of funding will enable Capital City to upgrade its fleet, create additional jobs with high-quality driver benefits and continue to expand within Mississippi and across the country, according to Advantage Capital, which has 12 locations nationwide.
“This investment has enabled us to grow at a healthy rate, bring on new business and provide high-quality benefits and pay to our drivers in our local community,” said Trey Waterloo, CEO of Capital City Trucking. “With the initial investment, we grew our employee base from 28 to 84. This next round of capital will allow us to upgrade our fleet with the latest technology and support our rapidly increasing geographic footprint and service capabilities.”
The investment is in connection with the Mississippi Small Business Investment Company Act, which is designed to attract capital investments to qualified small businesses in the state.
Advantage Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital.
Since 1992, the firm has invested more than $3 billion in companies from a diverse array of industry sectors and has helped support more than 50,000 jobs. — Transport Topics
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