BlueTarp Financial announced it has entered into a new partnership with a pair of long-serving lumber companies on Maryland’s Eastern Shore.
Both 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 turned to BlueTarp to manage their in-house trade credit program for their professional customers, including applications, credit extension, service and collections.
“As an independent dealer, making more money in today’s accelerating market certainly requires a watchful eye on many facets of the operation,” said Strong, in a prepared statement. “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.”
Rock Hall and Chestertown Lumber are expected to 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. “Many independent dealers turn to BlueTarp because of our steady cash flow. 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,” said Scott Simpson, CEO of BlueTarp Financial.