Cindy Lee Of LYNC Logistics Honored At WPO's 12th Annual Awards Ceremony

Tuesday, May 7, 2019

Cindy Lee, President, LYNC Logistics, based in Chattanooga, has been ranked third among this year’s Women Presidents’ Organization's 50 Fastest-Growing Women-Owned/Led Companies list. 

The WPO has announced the 12th annual ranking of the 50 Fastest-Growing Women-Owned/Led Companies. Winners were announced during the WPO Annual Conference, held this year in Charlotte, NC. The companies featured on this year’s list span a wide variety of industries, including technology and finance, emerging sectors for women. Aggregate revenues of the 50 companies are $5.9 billion, representing a significant impact towards women-led companies’ contribution towards the global economy.  

LYNC is one of the fastest growing third party logistics providers in the country, as evidenced by this WPO award and being named number 415 on the Inc. 500 list for 2018. LYNC, which is woman owned business, started in 2014 with an idea by Cindy Lee, who was running a trucking company at the time. With Cindy’s guidance and ability to hire the best of the best LYNC has grown from about $800,000 in revenue to $28 million in four short years with a team of 48 employees.  
 
LYNC provides truckload, less-than-truckload, refrigerated, and specialized transportation services using a network of local, regional and national carriers. "LYNC’s approach to transportation focuses on exceptional customer service and continuous improvement. We invest in our people, use cutting edge equipment and technology and leverage our experience to provide the highest quality of service possible. We measure our success through the success of our customers," officials said.
 
“At Capital One, we are passionate about supporting women business owners and leaders,” said Jenn Flynn, Head of Small Business Bank at Capital One. “The rise in women-owned businesses is an exciting trend to watch. These women are a real force, as reflected in the WPO 50 Fastest winners, and they are inspiring others to achieve great levels of success.” 
 
“I am delighted that this year our rankings show that women entrepreneurs are branching out into every sector of business,” said WPO President and Founder Dr. Marsha Firestone. “We are also very encouraged that companies of all sizes, such as LYNC Logistics are represented. Some smaller but very successful companies demonstrated significant growth this year.”   
 
All eligible companies were ranked according to a sales growth formula, combining percentage and absolute growth. To qualify for the ranking, businesses are required to be privately held, woman-owned/led companies and have reached annual revenues of at least $500,000 as of 2013 and every subsequent year. Applicants are not required to be WPO members. 
 
Additional facts about the 2019 50 Fastest Growing Women-Owned/Led Businesses:

• Average age of women-owner/leader is 50, younger than the average age of 51 last year;

• Aggregate revenue is $5.9 billion;

• Average 2018 revenue was $117.1 million;

• Average number of employees on first day: 9; projected average for 2019: 492; and

• Funding sources at company start:

o 78 percent with their own funds

o 22 percent with funds from friends and family

o 6 percent with a bank loan

o 6 percent with a line of credit

o 4 percent with a credit card

o 8 percent with private investors/angels 

All 50 companies were honored at a special event at the 2019 WPO Annual Conference at the Westin Charlotte on Thursday, May 2. Following the luncheon and awards ceremony, WPO hosted a “Guide to Growth” discussion featuring a selection of 50 Fastest winners sharing advice for established entrepreneurs working to increase businesses.


Trident Transport Opens Third Location In Minneapolis Area

CBL Properties Completes Sale Of The Forum At Grandview In Madison, Ms. For $31.75 Million

Millwood's Cleveland Location Celebrates First Birthday, Safety Record


Trident Transport has opened their third location in the Minneapolis area. Leading the charge for the Minneapolis branch, Ryan Johnson, vice president of Sales at Trident Transport, has 25 ... (click for more)

CBL Properties on Tuesday announced that it had closed on the sale of The Forum at Grandview, a 216,000-square-foot shopping center located in Madison, Ms. The center was sold to Hendon Properties ... (click for more)

Millwood’s Cleveland operations opened its doors last June, making it the company’s 29th location. Since then, officials said the team there has worked hard to ensure safety is always at the ... (click for more)


Business

Trident Transport Opens Third Location In Minneapolis Area

Trident Transport has opened their third location in the Minneapolis area. Leading the charge for the Minneapolis branch, Ryan Johnson, vice president of Sales at Trident Transport, has 25 years of experience in the freight industry to help spearhead Trident’s expansion efforts to the upper Midwest. “When presented the opportunity to lead this expansion, I jumped at the chance,” ... (click for more)

CBL Properties Completes Sale Of The Forum At Grandview In Madison, Ms. For $31.75 Million

CBL Properties on Tuesday announced that it had closed on the sale of The Forum at Grandview, a 216,000-square-foot shopping center located in Madison, Ms. The center was sold to Hendon Properties for $31.75 million, all cash. Proceeds from the sale were used to reduce outstanding balances on the company’s line of credit. “The sale of The Forum at Grandview is an excellent ... (click for more)

Breaking News

Shots Fired Through Locked Door Killed Man, Injured 2 Others Near UTC Campus; Omerrieal Woods Had Been Released On Federal Bond

Chattanooga Police said the incident in which one man was killed and two others injured at an apartment near the UTC campus involved shots being fired through a locked door. Police have arrested both suspects involved in the fatal shooting Sunday. Omerrieal Woods was apprehended Monday evening by the Chattanooga Police Department's Fugitive Unit with assistance from the ... (click for more)

Chattanooga Man Who Spent Over 14 Years At Brushy Mountain Set To Go Back Behind Bars

A Chattanooga man who spent 14 1/2 years at Brushy Mountain State Penitentiary is set to go back behind bars. Gary Dewayne Cross, 42, on Tuesday was sentenced by Judge Travis McDonough to serve eight years in federal prison. He had initially been facing much more time with an initial guideline range of 262-327 months due to his meeting the category of an armed career criminal. ... (click for more)

Opinion

Disappointed In The Collegedale Commission

Back a long time ago, when I was in high school at McCallie, us students were afforded a lot of freedoms. But those freedoms came with the expectation that you knew, above all else, to be honest and truthful. From the outset, this was always assumed to be the case. For example, if you missed a test, you could take it at home and return it the following day, along with a signed statement ... (click for more)

Roy Exum: Why I Picked Home Depot

I know precious little about hot water heaters except for Rule No. 1 – when one that’s older than your youngest child starts leaving a pool of water on the kitchen floor, “take low and go.” Replace the thing and forget about it. I don’t want to discuss it, don’t want be a prudent buyer by taking half the day to study it, and I am not about to drive all over town to find the best ... (click for more)