Advantage Capital announces it has invested $3.375 million in Richland-based Capital City Trucking. This follows an initial investment bu Advantage Capital earlier in 2019, which allowed the freight company to triple its employee base and pursue significant growth opportunities, according to release from the investor.
The latest round of funding will enable Capital City to upgrade its fleet, create additional jobs with high-quality driver benefits and continue to expand within Mississippi and across the country.
“This investment has enabled us to grow at a healthy rate, bring on new business and provide high-quality benefits and pay to our drivers in our local community,” said Trey Waterloo, CEO of Capital City Trucking. “With the initial investment, we grew our employee base from 28 to 84. This next round of capital will allow us to upgrade our fleet with the latest technology and support our rapidly increasing geographic footprint and service capabilities.”
The investment, in connection with the Mississippi Small Business Investment Company Act, will help Capital City grow its operations and bring good-paying jobs to Mississippi.
The act was passed in 2013 and is designed to attract capital investments to qualified small businesses in the state.
“We have spoken with many companies throughout Mississippi that are ready for growth but can’t find the financing they need. We are excited to continue our work in Mississippi and are looking to help more companies such as Capital City achieve their growth potential through the MSBIC program,” said Philip Ruppel of Advantage Capital.
Advantage Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $3 billion in companies from a diverse array of industry sectors and has helped support more than 50,000 jobs.
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