Document text
0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Man rescued from remote crash site above Galice ... Driver charged in deadly high-speed crash ... Pair charged in rural drug raid outside Jacksonville ... Man rescued from remote crash site above Galice ... Driver charged in deadly high-speed crash ... Pair charged in rural drug raid outside Jacksonville ... FACTORING FIRM Steelhead Finance expands staff, grows its bottom line Comment By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Aug. 11, 2016 at 12:01 AM By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Aug. 11, 2016 at 12:01 AM » Social News As he monitors client activity reports, Roger Hull can gauge the nation's economic well-being. Hull is the CEO of Steelhead Finance, which provides temporary financing for transportation companies delivering goods across the country. Retailers might tell customers "90 days is the same as cash," but trucking firms have bills to pay in the interim. That's where Steelhead Finance — known as Capital Associates until recently — and other factoring firms come in, providing cash flow by purchasing invoices at a discount. In the past four years, Steelhead annually has serviced around $50 million worth of invoiced goods. Last year, the volume was $55 million, Hull said, generating $2 million in revenue. Working throughout the country, Steelhead is somewhat insulated from regional ups and downs, but the broader economic forces are clearly evident. "We had a real slow first half of the year," Hull said. "People were depleting inventories, but as inventories got lower, freight started picking up. It hasn't been real fast, but it's getting better. The dollar amount of the invoices is up a little from the first six months of last year." The firm adopted Steelhead as its moniker partly to differentiate itself from the factoring companies with "capital" in their name and to better identify with its Northwest surroundings. "It's hard to separate ourselves from competitors, plus in the Northwest a steelhead is known as a fighting fish," Hull said. "We thought it was fitting for where we're located." The company moved into a 6,000-square-foot office in Navigators Landing near the Medford airport in May, providing room for its staff, which has grown to 30 people from 20 over the past decade as the economy has expanded. "That's a good problem," he said. "We've gone from 80 or 90 clients to 190, changed our model and got more aggressive in staffing for sales." To this point, Steelhead's growth has been internal. The company, founded in 1981, is among the oldest in its field, but there are much larger competitors. "There are 20 pretty significant players in this industry and then a lot of smaller ones," Hull said. Steelhead's owners — Hull, auto dealer Chuck Butler and president Bill Stewart — are considering extending their market share by buying another firm, but it's not an easy task. "It's hard to find people in Southern Oregon willing to be trained and then relocate to Texas, the South or somewhere in the Midwest," Hull said. The industry is dependent on collecting revenue from companies that can close their doors as easily as they can take on new customers. "It's considered a high-risk business so not too many entities are interested," he said. "Even so, we've been contacted by banks from time to time, inquiring if we were interested in selling." Reach reporter Greg Stiles at 541-776-4463 or [email protected]. Follow him on Twitter at www.twitter.com/GregMTBusiness , on Facebook at www.facebook.com/greg.stiles .31. By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Aug. 11, 2016 at 12:01 AM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2016 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501