Covenant is getting out of the factoring business.
The assets of Transportation Financial Solutions (TFS), the factoring arm of Covenant Logistics Group, are being sold to one of the biggest factoring companies, Triumph Business Capital.
“In short, we have decided to exit the factoring space,” David Parker, chairman and CEO of the truckload carrier, said in a note to its clients. “Fortunately, we know that we have selected a strong partner in Triumph, a company whose reputation of integrity and...
https://www.freightwaves.com/news/covenant-sells-its-factoring-arm-to-triumph