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Professional Consulting Services

11/08/2007

TransCore Partners with Advance Business Capital to Expand Factoring Services -Adds Broker Factoring Products for QuickPay Options along with Recourse Carrier Factoring


Category: Trucking News
Posted by: Craig Zwiener
PORTLAND, OR - Nov. 8, 2007 - TransCore partners
with Advance Business Capital, one of the country's fastest growing
factoring services, to expand the selection of providers and
integrated factoring services offered to freight brokers and carriers
within TransCore's internet-based 3sixty(TM) Freight Match logistics
service. Factoring, or the cash sale of accounts receivables, is as an
alternative source of financing that eliminates many of the
traditional qualification criteria.

    Transportation carriers often wait for payment from 30 to 60 days
while load providers process invoices. Smaller carriers with limited
cash reserves often need payment more promptly to cover driver payroll
and operating expenses and for the security to accept additional
loads. For growing carriers who need operating capital, factoring is a
practical source of funds. Factoring arrangements are more flexible
than traditional bank financing in regards to funding increases in
sales volumes, since the primary consideration is the creditworthiness
of the broker/shipper responsible for payment. Substantial cost
savings may also be recognized as the factoring client can eliminate
the need to establish its own credit, collection and accounts
receivable departments.

    "TransCore's alliance with Advance Business Capital is another in
our series of financial service partnerships that demonstrate our
commitment to providing integrated services that add value and
differentiate our service. The use of applied technology in this
important arena is specifically targeted to improve both the cost and
effectiveness of working capital solutions to our transportation
customers," explained David Schrader, TransCore's vice president of
freight business services.

    About TransCore and Advance Business Capital's Factoring Services

    Once integrated into TransCore's freight-matching software,
Advance Business Capital's additional factoring services will allow
TransCore's customers more options to locate, arrange, and finance
loads risk-free on one online platform. The new offering will also
provide carriers the following benefits:

    --  Endorsement - Special icons next to load providers' names
        ensure their guaranteed credit. If a load provider fails to
        pay the freight bill on a factored shipment, Advance Business
        Capital accepts the loss.

    --  Convenience - One online platform eliminates toggling between
        software systems and redundant phone calls.

    --  Online Monitoring - Carriers can monitor outstanding
        transactions in real-time with 24 / 7 online access to all
        account information.

    Factoring can also be adapted for freight broker requirements. In
addition to providing credit and collection services, the factor can
assume responsibility for all carrier payments - under a variety of
options and terms. In addition to administrative cost savings, many
freight brokers have benefited from the added ability to attract and
retain qualified carriers. By managing cash flow through factoring,
freight brokers can develop quick pay and loyalty programs to attract
and maintain quality carriers. Factoring is not just for carriers.

    Factoring services for carriers can be customized to the company's
fleet size. Non-recourse factoring programs geared primarily to owner
operators and smaller fleets offer affordable solutions where the
factor assumes all credit risks and advances the full invoice amount
upon receipt of original invoice documentation. Larger carriers can
benefit from variable-rate programs in which the factoring fees are
automatically adjusted for increases in sales volume. Invoice
documents and schedules may be scanned and transmitted electronically
to further reduce expenses and provide same-day funding.

    For more information on this program, visit www.loadfunding.com or
call (866) 638-8700. For 3sixty information, visit
www.3sixty.transcore.com

    About Advance Business Capital

    Founded in 2004, Advance Business Capital is the first and only
factoring service designed by truckers for truckers. Located in the
Dallas, Texas area, Advance Business Capital provides innovative
factoring solutions exclusively to For-Hire truckers and Freight
Brokers and is the first factoring company to receive the P3
(Preferred Platinum Provider) endorsement from the Transportation
Intermediaries Association. Clients are provided 24/7 online access to
all account information, as well as its exclusive Online Broker Credit
application where credit and authority information for over 46,000
freight brokers and intermediaries is monitored on a daily basis.

    About TransCore

    TransCore operates as a unit of Roper Industries, a market-driven,
diversified growth company with 2006 revenues of $1.7 billion, a
market capitalization exceeding $5 billion, and is a component of the
S&P Mid-Cap 400, Fortune 1000 and Russell 1000 Indexes.

    With products and installations in 46 countries, more than 100
patents worldwide, and pioneering applications of internet-based
logistics technologies, radio frequency identification (RFID), and
satellite-based asset tracking technology, TransCore's expertise is
unparalleled in the transportation markets it serves. TransCore's
GlobalWave Satellite Communications Technology Center, the hub for the
company's SatCom research and development, is based in Ottawa, Canada,
while manufacturing for both RFID and satellite communications is
based at TransCore's Amtech Technology Center in Albuquerque, N. M.

    For more information, visit www.transcore.com.

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    CONTACT: TransCore
             Barb Catlin, 972-733-6056
             Barbara.catlin@transcore.com
             or
             Jammye Reeves, 214-513-9627
             jreeves@advancebcap.com