Cision PR Newswire

BIRMINGHAM, Ala., Feb. 13, 2025 /PRNewswire/ -- Porter Capital, a trusted leader in specialty financing solutions, has provided a $15 million credit facility for a newly established entity in the transportation and freight services industry, headquartered in Georgia. The client, with nearly a century of operational history and a strong presence in the Midwest, required innovative financing to support its transition after forming a new LLC to acquire a division of a publicly traded Fortune 500 company.

The transaction underscores Porter Capital's ability to deliver tailored financing solutions quickly, even in complex situations. The client, operating under a newly established LLC with no historical financials, turned to Porter Capital after being referred by a broker who recognized Porter's expertise in addressing unconventional financing needs.

"This deal was unique in that it involved an entity with no historical financials or field exam to review, basically a startup," said Andy Dillard, Senior Vice President and Business Development Officer at Porter Capital. "We competed with several other lenders, but our ability to make quick decisions and provide a tailored solution on a tight timeline set us apart. It's a testament to our commitment to serving the unique needs of businesses in the transportation sector."

Porter Capital worked closely with the client to structure the $15 million facility, enabling the newly formed company to effectively manage operations and pursue its growth strategy. "This transaction highlights our flexibility and speed in addressing complex financing challenges," said Marc Porter, CEO of Porter Capital. "Our ability to move quickly and originate a large credit facility for a startup with no historical financials demonstrates why Porter Capital continues to be a trusted partner for businesses nationwide. We're proud to play a role in helping this company achieve its operational goals and maintain its legacy in the transportation industry."

The client's acquisition of a division from a publicly traded company required immediate funding to maintain operational continuity. Porter Capital's expertise in acquisition financing and corporate transitions made them the ideal partner. By providing the necessary funding in record time, Porter Capital ensured seamless operations and enabled the client to capitalize on new opportunities.

About Porter Capital

Porter Capital Corporation was founded in 1991 by brothers Marc and Donald Porter in Birmingham, AL. The company provides working capital solutions to businesses nationwide across various industries. As a direct lender and factoring company, Porter Capital has funded billions since its inception. It offers Invoice Factoring and Asset-Based Credit Lines of up to $25 million. Over the years, Porter Capital has expanded its services to include a specialized transportation division known as Porter Freight Funding. The Porter businesses continue to grow by delivering working capital solutions with a focus on personalized, dedicated customer service, while maintaining speed and efficiency. To learn more about Porter Capital Corporation and how it can support your business, call 1-888-865-7678, email team@porterecap.com, or visit www.portercap.com.

CONTACT: Michelle Milhoan, mmilhoan@portercap.net

View original content to download multimedia:https://www.prnewswire.com/news-releases/porter-capital-provides-15-million-in-financing-for-transportation-startup-302375175.html

SOURCE Porter Capital