TAB Bank announced it has provided a $5 million revolving credit facility for a trucking company based in California. Funding from the facility was used to pay off the company’s previous lender and will provide for their ongoing working capital needs. In addition, TAB Bank also provided the company with a $5.9 million equipment term loan to refinance various pieces of equipment.
The company serves the crude oil transportation and logistics needs of major U.S. crude oil producing regions. They operate 139 tractors and 183 trailers and transport approximately 1.5 billion gallons of oil annually.