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TAB Bank Provides Transportation Company $2.5MM Credit Facility

May 29, 2014, 06:00 AM
Related: TaB Bank

TAB Bank announced it has provided a $2.5 million asset-based lending facility for a transportation company located in the Northeast. The company is a long-haul, dry van carrier that operates 66 tractors and 185 trailers. In addition to transportation services, the company also offers warehousing and distribution, packaging and light assembly, and consultation services. Proceeds from the facility will be used to pay off the previous lender and to provide for the ongoing working capital needs of the company.

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.

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