Interstate Capital Announces FreeFreightSearch.Com Unit Celebrates 5th Anniversary

SANTA TERESA, NM  NOVEMBER 27, 2014

INTERSTATE CAPITAL GROUP OF COMPANIES announced today that its freight matching subsidiary, FreeFreightSearch.com, celebrated its 5th anniversary in business in November 2014.

FreeFreightSearch.com is the world’s largest FREE transportation load board. “Load boards are Internet sites where trucking companies search for loads and post their trucks, matching parties with freight to move with motor carriers with available trucks nearby”, explains Interstate’s spokesperson, Tony Furman.

The site was originally known as CheckFreightBroker.com in 2009 when the company was founded as a site where trucking companies obtained free transportation credit reports. In 2010, the company expanded into freight matching, an industry that Furman estimates is a multi-hundred-million-dollar-per-year industry.  In 2013, the company was re-branded as FreeFreightSeach.com to better identity it as a load board. The site still provides free credit reports for trucking companies, but load posting is its main draw.

Since 2010, FreeFreightSearch.com has posted over 60 million truckloads of freight, allowing more than 30,000 site members to search for loads available across North America. FreeFreightSearch.com adds over 1,000 new members every month, an annual growth rate of over 100%, and projects enrolling over 50,000 total members by year-end 2015.

FreeFreightSearch.com is currently in engaged in discussion with several nationally prominent organizations to become exclusive or semi-exclusive site sponsors. An exclusive site sponsorship deal s is expected to quadruple revenue and membership growth in fiscal year 2015. “We cannot comment about the identity of possible site sponsors until a contract is executed,” Furman added. A major announcement is expected early in 2015.

“Suppliers of goods and services to wishing to reach a 100% targeted audience of 50,000+ small trucking companies cannot overlook FreeFreightSearch.com as a place they need to be seen,” predicts Furman. FreeFreighSearch.com is a 100% advertiser supported business model.  Every other major load board, by comparison, uses a “pay-to-access” model that may cost thousands of dollars a year for membership–an expense many small and start-up trucking companies simply cannot afford.

The Interstate Capital Group of Companies is a leading marketer of accounts receivable and freight bill factoring, fuel cards, freight matching, freight broker credit reports, property broker bonds, fuel advances, truck and trailer financing, freight brokerage and freight payable auction management services. Founded in 1993, Interstate Capital has provided $ billions of funding for over 5,000 motor carriers and other small businesses in the U.S., Canada, and Mexico. Interstate Capital, which celebrates its 22nd anniversary in 2015, projects to purchase in excess of $1 billion of receivables next fiscal year.  Interstate is one of the largest privately-held, non-bank transportation factoring companies in North America.  For more information, contact Cindy Graff Cohen, Director of Communications, Interstate Capital Group of Companies, at (800) 422-5995.

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Interstate Capital Announces FreeFreightSearch.Com Unit Celebrates 5th Anniversary

Santa Teresa Company, Interstate Capital, Expanding into Central El Paso

After two years of unprecedented growth, the Santa Teresa-based Interstate Capital Group of Companies is expanding and opening offices in central El Paso this month. A portion of the company’s workforce will move from its Santa Teresa headquarters to El Paso by the end of November and company leaders plan to hire additional personnel later this year and into 2015.

The expansion and move to El Paso come after the company’s most successful month in its history. In October 2014, Interstate signed 46 new clients and disbursed $83 million of growth capital, representing a 29% year-over-year growth rate. Interstate’s October funding volume equates to non-seasonally adjusted $1 billion of annual funding volume.

“It takes a lot of dedicated people and physical space to service our client base and to maintain double-digit annual growth,” says Furman. “Last year, we realized we would have to acquire additional space to accommodate our growing workforce.”

The company has secured space at 2211 E. Missouri Avenue in central El Paso, with an option to acquire more space in the same building to accommodate its future growth needs. “We plan to relocate several departments to 2211 E. Missouri later in November when tenant renovations are complete,” Furman adds. “Eventually, I believe we will employ over 100 full-time people in our new El Paso location.”

Interstate’s new space, which will serve as an operations center and outbound call center, is less than a mile east of Downtown. “After searching for a location for over a year, we sought out 2211 E. Missouri (Gateway West) because of its proximity to the growing number of attractions in the Downtown and Kern Place districts,” says Furman. The office building sits within minutes of all the major El Paso healthcare facilities, UTEP, Basset Place, The Fountains at Farah, and Southwest University Park. “We believe our employees, who live in all parts of the Borderplex, will enjoy the great location and its easy access to the freeway.”

According to its five-year plan published in 2012, Interstate projected to reach $1 billion per year in funding volume by fiscal 2017. An accelerated rate of growth in 2013 and 2014 put Interstate well ahead of plan. “Our five-year plan was very conservative and assumed zero increase in our three-year trailing historical growth rate,” reports Tony Furman, Interstate Capital president. “Our revised objective is to disburse more than $1 billion annually by fiscal 2016 or sooner.”

The company’s growth rate during the past two years is attributable to the success of several maturing strategic marketing initiatives, including its proprietary web-based lead generation technology and increasing numbers of referrals from more than 6,000 past and current clients.

Interstate Capital, founded in 1993, has become one of the largest employers based in Santa Teresa, New Mexico.  Its clients include small- and mid-sized manufacturers; wholesalers; oilfield suppliers; transportation companies, and service businesses located throughout North America. The privately held company markets working capital financing, surety bonds, logistics services, and supply chain finance technology.  Interstate also developed and owns the world’s largest free transportation load board, FreeFreightSearch.com.

For information/interviews, contact:

Tony Furman

President, Interstate Capital Group of Companies

(800) 422-5995

Santa Teresa Company, Interstate Capital, Expanding into Central El Paso