Velocity Express



Velocity Express


Fulfilling customers’ need for speed, Velocity Express specializes in same-day delivery services. The company offers scheduled pickup and delivery, distribution logistics (in which customers’ shipments are sorted for delivery to multiple locations), and expedited delivery. Customers include retailers, office products manufacturers, pharmaceutical wholesalers, and other merchandise distributors. Velocity Express operates from approximately 80 warehouses and terminal facilities, and deliveries are made by independent contractor drivers. In early 2013, Velocity Express agreed to be acquired by TransForce, a large provider of transportation and logistics services based in Canada.


  • Company had existing Asset Based Lending (ABL) facility with a foreign bank
  • Company needed additional liquidity due to foreign receivables being treated as ineligible


  • Met with bank to amend the facility to allow the foreign receivables to be included in the borrowing base
  • Worked with bank to amend the facility including extending the maturity date
  • Amended facility was approved by the bank which increased the company’s availability

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