Aug. 18 /PRNewswire/ -- FTRANS Corp., a leading provider of accounts receivable and credit management solutions, today announced that it has been placed on Inc. 500's 28th annual listing of the fastest-growing privately held companies in the United States. FTRANS, ranked 345 on the list, has been awarded this honor based on the company's 718 percent growth in revenue over the past three years. The Inc. 500 is the most comprehensive look at the driving force of the American economy, the entrepreneurial segment.
"The success that FTRANS has seen over the past few years is a true testament to the value our service provides both financial institutions and small businesses," said Dan Drechsel, CEO of FTRANS. "The Inc. 500 list is an institution and we are pleased to be part of such a comprehensive list of those companies that remain the true backbone of the economy."
Founded in 2004, FTRANS helps businesses increase their access to capital by working with local financial institutions to outsource the tasks involved with the accounts receivable function. By outsourcing accounts receivable to FTRANS, businesses are able to simplify the tasks involved with customer credit administration, reduce risk, increase cash availability and in turn, facilitate growth.
Many financial institutions, particularly those looking to diversify their lending portfolios, have seen the benefits provided by using FTRANS. Through FTRANS' services, banks can transform their clients' accounts receivables into lower risk, lendable collateral by increasing Commercial & Industrial (C&I) lending, which, in turn, can improve credit ratings, release loan loss reserves and increase bank profits. The FTRANS bank program, which has teamed with many financial institutions over the past few months, allows for the ability to return to profitability by expanding commercial lending and increase business and commercial deposits, interest income and fee income.
The Inc. 500 list ranks companies based on revenue growth from 2005 through 2008. To qualify, companies had to be U.S.-based, privately held, for profit and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2008.
About FTRANS
FTRANS Corp., located in Atlanta, GA, provides innovative technology solutions for businesses and financial institutions. We provide a complete accounts receivable and credit management solution which enables businesses to operate more efficiently and with greater access to capital. From payment matching and account reconciliation to credit approvals, access to capital, and collections - FTRANS has the tools businesses need to achieve superior business results. We provide financial institutions with a program that enables them to lend to small and medium sized businesses with accounts receivable as professionally managed and transparent collateral for banks.
