Launched in 2019 with little industry experience, Red Lab Logistics focused on solid growth strategies supported by eCapital’s flexible business financing to emerge as a $50M company and a rising star on the Inc. 5000 list of the fastest-growing private companies in America.
Read their story and discover how eCapital’s innovative financing solutions enabled Red Lab to achieve remarkable growth and success in the freight brokerage industry.
The Challenge
As a new entrant to the capital intense and highly competitive transportation industry, Red Lab faced financial constraints and operational hurdles. The company needed to establish financial stability from the start to deliver quality service, build credibility, and gain trust from customers and carriers.
eCapital provided more than cashflow availability, they managed accounts receivable and streamlined carrier payment systems. This behind-the-scenes support was crucial for our growing business.
ADDISONE MILES
Owner (Head of Finance)
The Solution
Supported by eCapital’s financial backing and industry expertise, Red Lab Logistics transformed from being severely undercapitalized to financial independence. By leveraging flexible financing terms and strategic guidance from eCapital, Red Lab was able to effectively navigate the complexities of the transportation industry, streamline carrier payments, and strengthen its operational networks.
The Story
We spoke with Addison Miles, Owner and Head Of Finance for Red Lab Logistics, and delved into the company’s transformative trajectory and how they conquered financial hurdles through innovative financing solutions.
“Establishing financial stability to secure working capital and ensure consistent cash flow became an immediate priority.” The eCapital experience have helped Red Lab achieve success in a volatile industry.”
CARRIER PAYMENT SERVICES
FOR FREIGHT BROKERS
As brokers navigate the constant changes, including increasing competition, slow paying shippers, stricter regulations and compliance, the road to profitability is getting longer. Successful freight brokers are fueled by a healthy cash flow. eCapital a factoring company for freight brokers offers carrier payment services, providing fast payment for your carriers and takes care of your billing and collections so you can focus on running a profitable business.
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