SANTA TERESA, April 2, 2012. Tony Furman, president of the Interstate Capital Group of Companies (ICC), released preliminary, unaudited financial highlights for the month ended March 31, 2012. ICC purchased over $48 million of accounts receivable in March 2012, representing an approximate 19% year-over-year improvement over the same period in 2011. Meanwhile, collections increased 20% from $39 million for March 2011 to $47 million for March 2012, resulting in a 27% increase in total revenue. ICC does not release income figures.
Mr. Furman attributes robust growth in all key operating results to several factors:
-ICC successfully launched the world’s largest FREE internet freight matching site in 2010, CheckFreightBroker.Com, which began making a significant contribution to ICC’s pipeline of new business early in 2012;
-ICC experienced dramatic improvement in its organic rankings (the location of unpaid search results) by the major internet search engines;
-Increased investment in advertising and marketing;
-Rapid growth of popular, new high-margin business segments;
-Expansion of business development staff and restructuring of incentive plans.
Interstate Capital is one of North America’s largest privately-held factoring companies. ICC has provided billions of dollars of growth capital to thousands of small and medium-sized businesses throughout North America since 1993. Headquartered in Santa Teresa, New Mexico, ICC will purchase over a half billion dollars of accounts receivable this year.