SOURCE: TAB Bank

TAB Bank

February 17, 2011 11:20 ET

Lenders Funding Closes With Sovereign Bank; TAB Bank Participates

SAN FRANCISCO, CA--(Marketwire - February 17, 2011) - Lenders Funding, LLC announces that it has renewed its credit facility with Sovereign Bank. TAB Bank has been added as a participant.

Lenders Funding is a private funding source for factors and asset based lenders. Lenders Funding purchases participations in their customers' transactions on a non-recourse basis under a variety of flexible programs.

One of the largest banking institutions in the Northeastern U.S., Sovereign Bank is a subsidiary of Banco Santander.

TAB Bank, Ogden UT, provides custom working capital solutions to companies in all stages of business life cycles during all economic conditions. TAB focuses on commercial lending through Asset Based Loans as well lending to specialty finance companies such as Lenders Funding. 

"Lenders Funding is proud to be a borrower from both Sovereign and TAB," remarked Robert Zadek, founder and Managing Member.

Tim Valdez, Chief Lending Officer of TAB Bank said, "We are delighted to be a part of this transaction; Bob Zadek has an exceptional reputation in the commercial finance industry."

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