As a company driver for several years, Tyler dreamed of owning his own business. He started out as an owner-operator with one truck and then grew the business into a fleet of 5 in a few short years. While his balance sheet looked solid, the lack of sufficient operational cash became a great cause of business stress. Maintenance, insurance and rising fuel costs put his plans to expand on hold.
Tyler turned to invoice factoring so he could continue to grow the business using his own money even when unexpected expenses popped up. His company’s credit was strong and he really didn’t want to get a loan. “Factoring with eCapital streamlined our billing. It’s a much more simple process,” said Tyler. “eCapital provided us the means to grow the business using our own money that was bottle-necked in unpaid invoices.”
Tyler’s company increased revenue by 65% by factoring up to 90% of his invoices with eCapital. In six quick months, the small fleet grew by 10 more vehicles and hired the drivers to keep them on the road.
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