Expansion driven by accounts receivable financing
Buchanan Hauling & Rigging began in 1996 in Fort Wayne, IN with Geary Buchanan’s dream to supply quality transportation at a fair market rate, build lasting relationships, and provide jobs to drivers and owner operators.
Wells Fargo Capital Finance began working with Buchanan in 2013 by providing a $12.5 million accounts receivable facility, which the company uses for ongoing working capital needs and acquisition financing to support their expansion plans.
Buchanan started with one truck and two trailers and has grown to more than 275 trucks, 800 trailers, and a network of over 100 owner operators generating more than $120 million in annual revenue. It has also added a logistics division and has expanded to over 50 brokers.
Buchanan remains a family-owned business committed to quality and safety, and we’re proud to be on a first-name basis with everyone in the office and to support the financial needs of this entrepreneurial company.