SOURCE: TAB Bank

TAB Bank

April 22, 2011 11:30 ET

TAB Bank Announces First Quarter Fundings

OGDEN, UT--(Marketwire - Apr 22, 2011) - TAB Bank provided $36 million in working capital facilities for 24 businesses during the first quarter of 2011. The facilities included asset-based lines, accounts receivable lines, re-discount lines, equipment loans, and lender participations.

Highlights of those transactions include:

  • $6,500,000 AR and inventory line for a California manufacturing and distribution company
  • $5,000,000 re-discount line for a commercial finance company in Michigan
  • $4,500,000 AR line for a consulting firm in Georgia
  • $3,000,000 participation with a Florida financial services company on an asset-based line of credit
  • $2,500,000 AR line to an Arkansas trucking company
  • $2,000,000 asset-based line for a trucking company in Alabama
  • $2,000,000 re-discount line for a Maryland commercial finance company
  • $1,600,000 AR line for a trucking company in Indiana
  • $1,000,000 participation with a Utah financial services company on an equipment loan

TAB Bank is excited to be able to provide financing to these and other quality companies as they grow and compete in today's marketplace.

TAB Bank provides working capital solutions to transportation and non-transportation companies in all stages of business life cycles during all economic conditions. TAB Bank does so through Accounts Receivable Financing, Lines of Credit, Equipment Loans, and Asset Based Loans.

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