OGDEN, UT--(Marketwired - Apr 3, 2014) - TAB Bank is pleased to announce the closing of two factoring facilities totaling $450 thousand. Each funding represents TAB's lasting commitment in providing custom financial solutions to small and medium-sized businesses across the United States.
The first transaction was closed with a medical staffing company located in the Intermountain West. TAB has provided a $250,000 facility based on a multi-year agreement. The company specializes in both permanent and temporary physician and registered nurse staffing needs for hospitals, clinics, and private offices.
The second transaction was closed with an auto body repair shop located in the upper Midwest. TAB has provided a $200,000 facility which will be used to pay down the company's existing accounts payable and support their ongoing working capital needs as the business grows. The company provides its auto body repair services for transportation companies.
TAB Bank provides custom working capital solutions to commercial businesses from many industries. These solutions are provided in all stages of business life cycles during any economic conditions. TAB Bank does this through Accounts Receivable Financing, Lines of Credit, Equipment Finance, Asset Based Loans, Business Accounts, and Treasury Management Services.
TAB's team of Business Development Officers have years of experience developing client relationships and structuring credit facilities to support the growth and working capital needs of small to medium-sized businesses across the United States.