The Accutrac Capital group of companies continues to expand and grow as more trucking companies discover the ease and reliability of utilizing freight factoring to access working capital. Charles Sheppard, President of Accutrac Capital is pleased to announce the formation of Accutrac Transportation Factoring Inc., the companys newest subsidiary, located in Park City, Utah. This location establishes a physical presence in close proximity to the companys growing list of western based factoring customers. states Mr. Sheppard. We are extremely pleased to have Eric Myers join our executive management team as the Managing Director of Accutrac Transportation Factoring Inc.
Extensive Trucking Experience
Eric Myers is a 20 year veteran of financial services with extensive practical experience in the trucking industry. After acquiring a bachelors degree in Business Administration and an MBA in Marketing, Eric launched his career by entering the financial sector. Shortly thereafter, he changed industries to provide fleet fuel programs and related services to trucking companies across the nine western states. Since 2001, Eric has crossed paths to work within the commercial banking sector, alternative financing companies and in trucking with a focus of providing financial services to the transportation industry. Throughout his career, Eric has developed an acute understanding of the over burdening costs of running a trucking business that challenge owners on a daily basis.
From start-up companies to growing operations, almost all trucking companies need financing at some point in their development. Freight transportation is a capital intense industry with daily expense obligations. Reliable access to working
capital is a concern that occupies the minds of company owners each and every day. In too many cases, trucking companies face a looming expense such
as a fuel bill, driver wages, or any number of miscellaneous items (maintenance, insurance, licensing, etc.) that must be paid promptly or face the
possibility of having to halt operations. When the need to obtain a source of funding is realized, it is often a time sensitive issue that requires
immediate action. The situation is further complicated by the commercial banking system that regards the trucking industry as volatile and unstable.
Their restrictive qualification requirements prevent a majority of trucking companies from earning approval for an operating line of credit. Fortunately,
the emergence of transportation specific factoring companies, such as Accutrac Capital has eased this situation, providing truck company owners a means
of obtaining fast cash.
Consult a Reputable Advisor
Freight factoring has become a mainstream financial strategy to improve cash flow for trucking companies. Yet, despite this, it remains an unfamiliar option to many company owners. Understanding the difference between recourse factoring vs non-recourse, anticipating what your customers will think if you use an invoice factoring company, or any number of other considerations needs to be understood. Consulting with a reputable advisor, fully conversant with the unique aspects of transportation financing is a recommended first step.
Erics financial background and transportation industry knowledge enables him the ability to explain the distinct advantages of freight factoring in terms easily understood by truck company owners. As the Managing Director of Accutrac Transportation Factoring, Eric Myers is the ideal go-to-person for business owners seeking to secure funding for their trucking businesses. remarks Charles Sheppard.