TAB Bank Provides $43.6 Million in Trucking Equipment Loans in 2015 4th Quarter

OGDEN, UT--(Marketwired - Jan 6, 2016) - TAB Bank provided $43.6 million in trucking equipment loans for 209 transportation companies during the 4^th quarter of 2015. Based in different regions of the country, these companies represent a broad spectrum of trucking entities including one-truck owner operators to small and large fleets. 

"We are very pleased with our lending activity throughout 2015. It proved to be a tremendous year and we could not be more satisfied. The TAB team is privileged to partner with many trucking companies and provide them with the equipment financing they need to upgrade their fleets by purchasing new and used equipment. We ended the year on a very strong note and we are poised to build on this momentum in the upcoming year," stated Jan Allen Ackley, Chief Lending Officer at TAB Bank.

Ackley continued, "We have been an industry leader for many years in providing financing solutions to trucking companies. We also offer smartly engineered working capital solutions for our clients through our Accounts Receivable Financing and Asset Based Lending programs. It is very common for our clients in the trucking industry to utilize both our equipment financing and working capital funding due to our expertise, knowledge of the industry, and interest rate structure. Our commercial finance and business banking teams are full of professionals with years of experience in not only providing financial service and support to trucking companies, but businesses from many other industries as well, such as manufacturing, distribution, technology, temporary staffing, and many others. TAB team members are experts in commercial finance and finding solutions to tough financing problems. This expertise was used to help a multitude of companies in various industries during 2015 which will continue in the coming year."

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