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 Acquires Office Space And Moves Jobs From New Mexico To El Paso

Interstate Capital, a local commercial finance company, announced earlier this month that its parent company, American Finance & Investment Co, Inc. (AFIC), has acquired a  60,000 square-foot office building in El Paso fronting I-10, between Piedras and Cotton Streets. Interstate plans to sign a lease and become one of several major tenants in the building, relocating approximately 25 full-time positions from its offices in New Mexico to the 3-story office building in central El Paso. According to Furman, “Interstate is committed to leasing a large space on the building’s third floor, and will make an investment in renovating its interior space and upgrading technology and telecom infrastructure”.

For the past 21 years, Interstate has been a fixture in Santa Teresa, where it first occupied the space now housing a Subway sandwich shop on McNutt Road.  In 1999, Interstate expanded into a 7,000 square-foot office building located next to the Wells Fargo Bank branch on Country Club Road.  “When we built that building, it was intended to house a fraction of employees we now employ in Santa Teresa”, explained Furman. We had a few tenants which, over the years, were displaced by Interstate’s growing workforce.

AFIC spokesman, Ernest Eisenberg, reports that AFIC also plans to relocate employees from its Yandell office to the newly acquired building. While Interstate Capital’s corporate headquarters and executive management team will remain in New Mexico, future employment growth will take place primarily in El Paso, where Furman estimates Interstate Capital will eventually employ more than 100 full-time persons. The move by Interstate Capital to El Paso will not displace any current tenants.

Eisenberg is in negotiation with a large prospective tenant to take most of the rest of the available space.  “For us, the location is ideal because we and our tenants can zip on or off Interstate-10 right into the covered parking lot, and, depending on traffic,  it’s only a three- to six-minute drive to all the major medical complexes, UTEP, Fort Bliss, courthouses, Southwest University Park, the Fountains at Farah and our quickly transforming Downtown. I think our employees and our tenants will appreciate the building’s close proximity to everything that makes El Paso great, ” Eisenberg added. AFIC is hoping to have the building renovations completed in early 2015.

When completed, the building will be a more prominent fixture on the freeway, immediately east of Downtown, will be more visually attractive, and will be home to financial institutions, professional offices, and a radio station, among other businesses. According to Furman, “The acquisition of the building fulfills our group’s long-overdue need for more space for our continually growing workforce. The acquisition of this building will benefit our company and the El Paso economy. The Interstate Capital Group of Companies employs approximately 80 full-time employees, 60 of whom presently work in its Santa Teresa, New Mexico office.

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. Holding its current rate of growth constant,  Interstate Capital projects to purchase in excess of $1 billion of receivables annually within the next two years. AFIC will celebrate its 70th year in business in 2016.

Interstate Capital Corporation

Tony Furman, President

(915) 525-2705

tfurman@interstatecapital.com

Interstate Capital Acquires Office Space And Moves Jobs From New Mexico To El Paso