Interstate Capital announced partial results for its third quarter ended March 31, 2015. During the three-month period, Interstate’s originations increased 40% over the same period the prior year. During the same period, funding volume increased 16%.
Interstate’s current five-year plan calls for Interstate to fund over $1 billion of receivables annually by fiscal year 2017. “Interstate is significantly ahead of plan,” says Tony Furman, Interstate president. “We are now on track to fund in excess of $1 billion annually in fiscal year 2016, assuming no increase in our historical 3-year average rate of growth.”
Interstate Capital 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 10,000 motor carriers and other small businesses in the U.S., Canada, and Mexico. Interstate is one of the largest privately-held, non-bank transportation factoring companies in North America.