Small Business Showcase: Express Logistics Inc.Partnering to Make Fleet Financing Possible
We connected with Oakmont Capital Services’ customer David Braxton of Express Logistics Inc. to learn about the business’ history, the company mission, how he has been navigating through the pandemic, and his experience working with an independent direct lender.
The Beginning of Express Logistics Inc.
In October 2019, David Braxton and his brother Douglas acquired an existing FedEx Contractor Business, which included seven FedEx Line Haul routes and eight Semi-Tractors. The company is contracted by FedEx Ground to move trailers from terminal to terminal as part of FedEx’s Supply Chain.
Express Logistics is responsible for hiring and retaining qualified truck drivers that must meet rigorous standards to transport FedEx trailers and deploy quality semi-trucks on the road during the transporting of FedEx trailers. Braxton and his team’s services are operated at the world’s highest levels, given FedEx’s global standards. Although Express Logistics acquired an established business with a profitable track record, raising capital to support growth was challenging for the owners.
What Does Express Logistics Do Differently?
Although there are well over 5,000 contractors supporting the FedEx Supply Chain, many of these contractors have limited business experience and started in the industry as truck drivers. “My brother and I were raised around trucking because our dad was a truck driver. He’s now retired after serving in the industry for over 40 years,” Braxton said.
Both brothers pursued college degrees, studying business, and later were employed in corporate positions supporting multi-billion-dollar businesses. “As a result, we bring a different perspective to this independent contractor industry and our own multi-million-dollar business,” Braxton added. “We are injecting the business disciplines we’ve learned throughout our corporate careers into Express Logistics. These include employee culture, managing capital assets like semi-tractors, and partnering effectively with FedEx to exceed the service delivery expectations.”
Why Partner with A Commercial Lender?
Early on during the establishment of Express Logistics, the Braxton brothers sought a financial partner that could go beyond the credit application and could truly understand what was best for their business.
“We decided to partner with Oakmont Capital Services because the team engaged in critical thinking when it came to analyzing the strength of credit for our business, based on the credit history of our owners,” said Braxton.
Oakmont Capital Services has several finance professionals on staff that specialize in working with independent contractors and funding fleets of any size. With seasoned experts working to make funding a reality for delivery businesses, Oakmont understands the industry, the trucks, and the funding process to provide a faster and easier solution for independent contractors.
“As a result, Oakmont looked beyond our short time in business and extended financing that helped us double our number of routes and trucks to support e-commerce growth,” Braxton added.
“Establishing commercial credit early on is a great business practice,” said Chad Primus, Business Development Officer and CLFP with Oakmont Capital Services and part of the Express Logistics financing team. “By purchasing trucks with commercial financing, David set his company up for long-term success, building business credit from almost day one.”
Journey Through Uncertainty
Braxton expressed excitement with the business’s growth, though, like many other companies, Express Logistics has run into obstacles since the COVID-19 pandemic struck. “The positive is that consumers are ordering more items online, which benefits FedEx and its contractors. The challenge becomes adding resources quickly, like staffing and trucks, which requires additional capital,” Braxton added.
Despite these trying times, Braxton remains optimistic and focuses on planning for success. The owners of Express Logistics concentrate on building out their fleet and hiring experienced drivers. According to Braxton, another critical component is to secure a financing partner with the mutual objective of growing with a business. “One-time transactions may be necessary until you can find that trusting relationship with a finance partner. We are thankful to have found Oakmont and look forward to our journey as we both grow together,” he added.
Express Logistics, Inc., headquartered in Tyrone, GA with operations in Walker, MI, Toledo, OH, and Chicago, IL, is a Contractor with FedEx Ground providing line haul Supply Chain Logistics services by moving FedEx trailers between terminals. Express Logistics was founded in 2019 via the acquisition of a previous Contractor business providing comparable support to FedEx Ground.
Oakmont Capital Services LLC, headquartered in West Chester, PA, with an office in Albany, MN, is a fast, affordable, reputable solution to financing. Founded in 1998 by Managing Members Joe Leonard, CLFP and Megan Zoba, Oakmont Capital Services (OCS) is a direct, independent lender, providing commercial equipment financing and working capital throughout all 50 states. The professional financing staff at OCS has combined experience of over 250 years in the industry and is the reliable choice for today’s financing needs. For more information, visit www.oakmontfinance.com.
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