For Immediate Release – 18th May, 2016
Scout Logistics Corporation, one of North America’s leading perishable logistics specialist and a two-time recipient of Deloitte Canada’s Best Managed Companies designation, is pleased to announce a new strategic partnership with Grand Financial Management Inc., and Factbanc Corporation, two of North America’s leading specialty finance companies focusing on accounts receivable funding. The partnership aims to provide carrier partners with a comprehensive set of financial and risk management services by managing financing vulnerability and maximising cash flow liquidity.
As industry leading experts in accounts receivable finance, Grand Financial Management Inc., and Factbanc Corporation offer a range of complete credit services, invoice processing, and receivables management – presenting a full-value package that gives carriers access to cash flow and invoice factoring resources specifically tailored to meet their individual business needs. Yearly, as a combined group, Grand Financial and Factbanc process in excess of 5 million funding transactions in the logistics and transport industries alone.
“We’re extremely excited to have partnered with Grand Financial and Factbanc”, said Lorne Swartz, President of Scout Logistics Corporation. “At Scout, we understand that our relationship with our carrier partners is critical to our ongoing success and as such we continue to go the extra mile in order to ensure that we can offer cutting edge solutions for our transportation providers. This new partnership will further enhance Scout’s ability to rapidly scale our business for years to come.”
It was imperative for Grand Financial and Factbanc to partner with a company whose ethics and integrity rises above all”, said Brian Kalish, President Factbanc Corporation. In concert with Scout, this partnership will strengthen our position as a leader in financial solutions within the North American Transportation Industry.”
Scout Logistics is one of North Americas largest third-party logistics providers with a reputation for going above and beyond as it relates to their Carrier partners. Offering distinctive 24 hour payment terms, 24/7 availability and diverse loading opportunities throughout North America, Scout provides round the clock service that guarantees drivers assistance 24/7. Carriers are also provided with a user account for Carrier Connect, allowing them to login anytime to see available loads, post locations and available equipment.
For more information, please contact: Ethan Kline, Chief Financial Officer, Scout Logistics Corporation
About Scout Logistics Corporation
Scout Logistics is one of Canada’s largest non-asset based transportation providers. Founded in 2011, Scout has built a reputation for providing Customers and Carriers with best-in-class customer service, superior on-time delivery, and transformative technological applications. Scout transports over 600 million pounds of refrigerated goods each year, and has quadrupled its revenue since inception. To learn more about Scout, visit www.scoutlogistics.com
About Grand Financial Management Inc
Grand Financial Management Inc., established by brothers Michael and Roger Rakhnayev in 2002, is a company whose success is rooted in a commitment to customer service. Offering an array of financial services including invoice purchasing and processing, same day no-cost funding, loans, fuel advances and fuel cards, and partner products such as TomTom Telematics fleet management solutions that include dispatch software, safety and compliance audits, and much more. To learn more about Grand Financial, visit: www.grandfin.com
About Factbanc Corporation
Factbanc is a privately held specialty financial services company, providing middle market companies with mezzanine and other alternative financing. The company’s principal partners include operators of existing financial companies with nearly 20 years of experience. To learn more about Factbanc Corporation, visit: www.factbanc.com