SOURCE: TAB Bank

TAB Bank

January 27, 2011 11:15 ET

TAB Bank Provides Halvor Lines With a $5 Million Facility

OGDEN, UT--(Marketwire - January 27, 2011) - TAB Bank announces the funding of a $5 million senior credit facility for Halvor Lines, Inc., of Superior, WI.

Halvor was founded in 1968 by Bill Vinje and four partners (all owner-operators) to haul snowmobiles and related products for Halvorson Equipment Co. of Duluth, MN. By 1977 Halvor Lines, Inc. had a fleet of 40 tractors & 50 trailers. Although Bill passed away in July 2001, Halvor Lines, Inc. continues to be a family run business. The management team is lead by President Jon Vinje.

Halvor has incorporated modern technology such as state of the art computer systems, mobile communication, and late model transportation equipment with a great work force to be one of the premier carriers in the nation. Halvor currently operates 325 tractors and 900 trailers.

TAB Bank is pleased to assist another quality company such as Halvor Lines as they navigate the current economy as a leader in the transportation industry.

TAB Bank provides custom 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 and Asset Based Loans

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