Interstate Capital Corporation, a privately held family business, is proud to have two fourth-generation employees in leadership roles: Josh Cohen and Ernest Eisenberg, great-grandsons of one of the founders of ICC’s parent company, American Finance and Investment Co., Inc. (AFIC). Their great-grandfather, Ernest Friedman (1903-1970), was one of the small group of local investors who helped launch AFIC in El Paso, Texas, in 1946.
Friedman’s son-in-law, Jack Eisenberg, recently celebrated 65 years of working at AFIC. He started by sweeping the floors there in the 1940s after serving in the U.S. Marines and turned the firm into a thriving business. Its success allowed Jack’s only son, Cliff Eisenberg, to open ICC in 1993 with Tony Furman, a family friend. A few months after ICC’s inception, Jack’s son-in-law and Cliff’s brother-in-law, Louis Cohen, joined the team, completing ICC’s corporate officers. At 87 years old, the family patriarch still works at the AFIC office each day and does not anticipate stopping anytime soon.
“I grew up always hearing stories from my grandfather, mostly related to business,” says Josh Cohen, son of Louis and Cindy Eisenberg Cohen and a ten-year ICC employee who now manages ICC’s busy underwriting department. “Whether we are at a family function or at the office, his mind was and is always on business — he’s always talking numbers.”
“Ever since I was a young child, I wanted to work with my father and family,” adds Ernest Eisenberg, AFIC vice president and only son of Cliff and Martha Eisenberg. “I take great pride in working to grow and diversify what equates to 130 years of collective family service to AFIC and ICC.”
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.