SOURCE: TAB Bank

TAB Bank

April 03, 2015 10:20 ET

TAB Bank Funds Two Trucking Companies in the West

OGDEN, UT--(Marketwired - Apr 3, 2015) - TAB Bank is pleased to announce the funding of two trucking companies in the Western United States. Each funding represents TAB's commitment in providing working capital and other financial solutions to companies in the trucking industry.

The first transaction was closed with a trucking company in Idaho. TAB has provided them with a $1 million line of credit based on accounts receivable. In addition, the company received $550 in an equipment term loan. They are also utilizing TAB's Treasury Management Services to meet their business banking and online cash management requirements. This new relationship demonstrates TAB's ability to be any commercial entity's total business partner with regard to their lending and banking needs.

The second transaction was closed with a trucking company in Montana. TAB has provided them with a $750 thousand factoring facility as well as $2.6 million in an equipment term loan. Both loans will be used to pay off the company's previous lender and to provide for their ongoing working capital needs.

While FDIC-insured TAB Bank provides working capital and other customized financial solutions to a variety of industries such as manufacturing, staffing, and technology, the bank's first industry was trucking. These financial solutions are provided in the form of Accounts Receivable Financing, Asset Based Loans, Lines of Credit, Equipment Finance, Business Accounts, and Treasury Management Services.

Contact Information

  • Contact Information:

    Trevor Morris
    Director of Marketing
    801-624-5172
    trevor.morris@tabbank.com
    Twitter - @TABBank
    Facebook - facebook.com/TABbank