2 Lumber Firms Turn to BlueTarp Financial

Posted: 06/24/2013 12:51PM

 

click image to zoomRock Hall Lumber CompanyRock Hall Lumber Co. and Chestertown Lumber Co. have entered into a financial partnership, outsourcing the "banking aspects of their operations. PORTLAND, ME, ROCK HALL, MD and CHESTERTOWN, MD - BlueTarp Financial, the leading trade credit and marketing services provider for the building supply industry, has entered into a new partnership with a pair of long-serving lumber companies on Maryland's Eastern Shore. Rock Hall Lumber Co. and Chestertown Lumber Co. are owned and operated by Ernest "Tot" Strong and his wife Millie, who have guided the companies for nearly 35 years.

The companies are now enlisting the support of BlueTarp to manage their complete in-house trade credit program for their professional customers, including applications, credit extension, service and collections. Rock Hall and Chestertown Lumber will benefit from BlueTarp's guaranteed cash flow by receiving funds on a pre-determined schedule that allows them to plan their investments ahead of time.

As an independent dealer, making more money in today's accelerating market certainly requires a watchful eye on many facets of the operation, Tot Strong says. "BlueTarp's reputation and expertise in credit issues will greatly relax what has become the 'banking' aspect of the operation, allowing management to concentrate on selling great products with exceptional customer service. This relationship should greatly relieve credit concerns in any succession plan, which is a major factor in a successful transition."

Many independent dealers turn to BlueTarp because of its steady cash flow, CEO Scott Simpson points out. “When we also take away the hidden risks that were there when they managed their in-house program alone and add in flexible terms for customers, it's a win for everyone,” Simpson adds. “We make sure owners like Tot and Millie stay in the driver's seat — that's critical for success in this relationship-driven industry."

 


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