Optimizing Business Cash Flow Helps Fund 1,066% Growth
Written by Carmen Zuniga, Vice President – Treasury Management
Some business leaders are absolutely astonishing. I’ve been in banking for more years than I’d like to admit, and over that time have worked with so many people that a few tend to stand out among the crowd. I started out on the personal side of banking and my career progressed to Treasury Management, which is a sophisticated way of saying I help our business clients maximize the efficiency of their daily operating cash through a diverse set of banking solutions.
The leadership of Tallgrass Freight of Kansas City is among the handful of business people I continuously point to as an example of what motivation, determination, boundless energy, and, of course, a partnership with an expert business bank can achieve.
In 2017, Inc. Magazine ranked Tallgrass Freight:
- 409 out of 500 of America’s fastest-growing private companies
- Twenty-second fastest-growing logistics company in the United States, and
- Third fastest-growing company in the state of Kansas.
Founded in 2012, Tallgrass Freight had a staggering 1,066% growth in the past three years, doubling its revenue in 2016. The company provides transportation and logistics services to small and mid-sized companies, including less-than-truckload, full truckload shipping, flatbed services, intermodal services, and more.
Our relationship with the company started when client David Barnes came to us for a loan to acquire his half of the business. Shortly after that, we implemented a relatively modest line of credit, which we doubled the second year and now expanded to 7.5 times the initial amount. They’re growing through their rapidly expanding broker base — fortunately, it’s such a great company that brokers are referring their friends to work there and their staff has grown from seven to 47 in the past three years, with plans to add another 40 in 2018.
When I first began working with Tallgrass Freight, they had a line of credit. Through a close, strategic partnership with us that includes awareness of their short-term and long-term goals, we used our depth of experience and team approach to develop a set of customized cash-flow management solutions. Working closely with these professionals has been such a pleasure, and designing ways for them to increase efficiency and maximize their operations has been satisfying professionally. As the company grew (and continues to grow), we meet quarterly to ensure their daily operating financial solutions are staying out in front, not only supporting their incredible growth, but also helping to propel it.
Banking Beyond Expectations
In my job, I see few business owners like David Barnes, but many more who have the potential. Strategizing with your bank may be a new experience for you, but to really take full advantage of the financial solutions at your disposal, it’s important to consider how you can optimize your cash flow.
Learn more about how First Business Bank deploys customized Treasury Management solutions to help you operate and achieve your ambitious goals in our latest article, and reach out to schedule a review of your current banking relationship to see if we can provide value you’d never considered.