Funding DepartmentJ.P. Morgan Chase, Interstate Capital’s long-time banking partner, recently recognized the Santa Teresa, NM-based factoring company with the “2015 Elite Quality Recognition Award for Outstanding Achievement of Best-in-Class: 100% Rating.” The award goes to Interstate’s funding department for its near perfect transmission of wire transfers last year, a standard of accuracy met by fewer than 1% of J.P. Morgan Chase clients nationwide. Executives from the bank’s offices in San Antonio and El Paso, Texas, presented the trophies and certificates to Interstate Capital executives in the corporation’s offices in Santa Teresa, NM, last week.

Interstate Capital’s funding department, which sends out more than 30,000 wire transfers a year, is run by 16-year Interstate veteran Joe Armenta, who manages four other long-time employees: Irma DeAquino, 13 years; Laura Cortazar, 11 years; Adriana Sano, 5 years; and Susana Telles, 4 years. Their consistent accuracy in wire transmissions reflects Interstate’s high standards and advanced record keeping systems and results in a high level of efficiency for clients and savings for Interstate Capital.

The Interstate Capital Group of Companies is a leading provider of accounts receivable factoring, freight bill factoring, fuel discount cards, freight matching, freight broker credit reports, property broker bonds, fuel advances, truck and trailer financing, and logistics 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 Capital 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.