Local Factoring Company, Interstate Capital, Gives Back To The El Paso Community

Interstate Capital Corporation often gives back to its local community and region through charitable donations and volunteer work, but this week brings an example of the company’s commitment to an important national cause: the Susan G. Komen Race for the Cure benefitting breast cancer research, survivors, and treatment. This year, business development officer Lori Ruiz celebrates eight years of organizing the Interstate Capital Race for the Cure team, one of the largest groups taking part in El Paso’s annual event.

“It’s a very important cause and one that hits home with many employees and their relatives,” Ruiz says. “Plus people like to get together outside the office and they bring along their spouses or significant others and children to have fun. Activities like these bring the company closer.” Since Interstate Capital first began taking part in the annual fundraiser, the company has always paid the entry fees for employees and their families.

Ruiz notes that since she first began recruiting employees to take part in the walk/run event, the company has contributed more than $15,000 to the cause. “A majority of our employees are women and this event helps raise awareness about breast cancer as well as raises funds,” Ruiz says. “I also think that the company’s support of the Race for the Cure inspires people. Knowing that we work for a company that cares for something as important as this cause is gratifying.”

The Interstate Capital Group of Companies is a leading marketer of accounts receivable factoring, 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 this fiscal year.  Interstate is one of the largest privately-held, non-bank transportation factoring companies in North America.

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Local Factoring Company, Interstate Capital, Gives Back To The El Paso Community

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

Interstate Capital’s Load Board Posts 50% Annual Growth in July 2014

Interstate Capital, a leading factoring and freight bill funding company, announced this week that its freight matching unit, Check Freight Broker, LLC d/b/a FreeFreightSearch.com (“FFS”), posted 50% year-over-year growth in July 2014. Launched in 2009, FFS.com has grown to become the world’s largest free transportation load board.

Transportation load boards, also known as “freight matching” sites, connect motor carriers with shippers and freight brokers through an on-line portal.  Motor carriers universally rely on load boards to search for freight in geographic locations where their empty trucks are located. FFS has posted over 50 million truckloads of freight and has registered over 30,000 members. In the month of July 2014, FFS received over 100,000 page views by members and site visitors and in excess of 7,500 new site visitors, representing annual increases of 51% and 50%, respectively, over the same reporting period in 2013.

Tony Furman, CEO of FFS, commented, “The growth rate of FFS has outpaced all our other business units in 2014, due primarily to marketing efforts intended to differentiate FFS from the costly subscription-based load boards and the ‘mom-and-pop’ boards.” FFS is a free site, supported 100% by advertisers.  Every other major load board requires subscriptions that are too costly for many new and small motor carrier fleets to afford. “FFS fills a void in the load board marketplace by targeting smaller carriers. Because they have lower overhead than large carriers, smaller carriers are usually willing to haul freight for less, which means more profit for shippers and freight brokers,” explained Furman.

FFS has set its sites on an aggressive expansion plan for its current fiscal year that began July 1.  “My goal for the coming year is to roll out a direct marketing campaign to integrate the 1,000 largest freight brokers in the U.S. directly with FFS, and to at least double the number of posted loads by June 30, 2015.  Our mission now is to increase load postings, and we make a very compelling case that every freight broker needs to post their loads on our site to maximize their exposure to small motor carriers,” Furman explained.

The site attracts over 7,500 new visitors per month, most of which are small trucking companies and owner-operators searching for freight. “We plan to exploit the value of our increased reach by adding more advertising and site sponsorship opportunities and increasing our ad rates this year,” Furman explained.Unlike other free sites; however, FFS does not make its membership list available to outside parties. FFS markets advertising and site sponsorship opportunities to insurance brokers, factoring companies, truck dealerships, truck repair shops, truck stops, leasing companies, tax preparation and bookkeeping services, freight brokers, truck accessory distributors and installers, software companies, and new and used trailer dealers.

In addition to being the world’s largest free load board, FFS is also the only load board with an optional integrated factoring platform. Motor carriers may find freight, obtain fuel advances, and obtain 100% payment upon delivery without ever leaving the site.  In addition, FFS provides all its members with unrestricted free access to over 10,000 freight broker credit reports.

FFS is part of the Interstate Capital Group of Companies. The Interstate Capital Group of Companies is a leading marketer of accounts receivable financing,  freight bill factoring, invoice factoring, fuel cards, freight matching, freight broker credit reports, load boards, property broker bonds, fuel advances, truck and trailer financing, freight brokerage and trade payable auction management. Founded in 1993, Interstate Capital has provided $ billions of funding for over 5,000 small businesses and trucking companies throughout the  U.S., Canada, and Mexico. Interstate Capital projects to purchase in excess of $1 billion of receivables annually within the next fiscal year, earning it the distinction of being one of the largest non-bank, privately-held factoring companies in North America.

Interstate Capital’s Load Board Posts 50% Annual Growth in July 2014

Interstate Capital Re-Brands World’s Largest Free Matching Site

EL PASO, TX APRIL 14. Interstate Capital, one of the largest independent funders of truckers in the U.S., revealed today its plan to re-brand it subsidiary, Check Freight Broker, LLC, better known in the transportation industry as “CheckFreightBroker.com” (“CFB”).  Effective immediately, the CFB brand will be co-branded, FreeFreightSearch.com.

Tony Furman, CEO of CFB explains, “In 2009, the CFB brand became synonymous with transportation credit reports for truckers.” As the business expanded into free freight matching, gradually the CFB name became obsolete. “I would estimate than 90% of our members currently use the site first and foremost, to find freight for free and secondarily, to ensure they’ll get paid by freight brokers,” Furman added. “Just three years ago, it was the other way around.”

To avoid confusion among its over 16,000 members and the rest of the transportation community, CFB will not immediately drop that identity, but site visitors will notice the the CFB identity along-side the  FreeFreightSearch.com branding. Eventually, when the co-branding campaign is complete, Furman plans to drop the CFB identity completely.

Furman attributes the site’s growth to truckers becoming smarter comparison shoppers. In 2011, CFB launched a sister site, CompareLoadBoards.com, to make comparison shopping easier for truckers.  At the time, trucking companies were paying many thousands of dollars to access competing, larger freight matching sites (“internet load boards”). They still do–a fact that provides Furman with fierce resolve to educate the trucking community about free load boards.  CompareLoadBoards.com illustrates the differences among load boards through use of an easy-to-understand comparison chart.  Furman claims, “The side-by-side comparison chart featured on the CompareLoadBoards.com site drives truckers to the CFB site by the thousands.”

“One of the most frequently asked questions is, ‘How do you make money?’ New site visitors are weary about being ripped off or eventually being charged to access the site’s premium features,” Furman explains. “Our biggest challenge is convincing truckers that it’s no scam. Our business model works because it’s free, not despite it. Our site is 100% advertiser supported, just like Yahoo, Yelp, and Facebook. We make money because our advertisers make money. Our advertisers count on us to deliver a growing, targeted, niche audience–and we do. It’s all about building user engagement on the site and building site metrics. We do that by providing access to all our valuable features for free,” he added.

By contrast, other major load boards charge their members thousands of dollars to access their sites. While some of the other major load boards boast larger membership rolls than CFB, its 16,000 members have searched over 40 million truckloads of freight and visit over a million of the site’s pages annually, making it by far the world’s largest free load board. CFB projects it will have over 25,000 registered members in 2014. According to Furman, CFB is in its infancy and still only scratching the surface of the free freight matching market after nearly five years in business.

CFB is a wholly-owned subsidiary of Interstate Capital, a leading transportation factoring company that has provided $ billions of funding for over 6,000 motor carriers, freight brokers, wholesale distributors, manufacturers, and services businesses for over 21 years. Interstate and affiliates maintain offices in El Paso, Texas, New Mexico, California, and Arkansas.

Interstate Capital Re-Brands World’s Largest Free Matching Site