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TAB Closes Working Capital Facilities for Two Utah-Based Trucking Companies

April 25, 2016, 07:07 AM
Filed Under: Trucking

Two transportation companies based in Utah have chosen TAB Bank for working capital credit facilities. Since its founding, TAB Bank has partnered with trucking companies to create fast and flexible financing solutions that keep companies running smoothly. TAB is committed to helping transportation companies and professionals thrive by providing them with the financial tools to grow and manage their businesses. These two transactions are another example of this commitment.

The first transaction is with a company that specializes in the transportation of frozen, chilled, and dry products throughout the United States. TAB has provided them with a $500,000 revolving credit facility that will pay off the company's previous lender and support their continued working capital needs.

The second transaction is with a freight brokerage company. The company is planning for extensive growth in the coming years. TAB has provided them with a $500,000 revolving credit facility that will help fuel this growth.

While FDIC-insured TAB Bank provides working capital and other 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 Card Products, and Treasury Management Services.

TAB Bank's nationwide sales team of trucking business development officers possess years of experience in building mutually beneficial client relationships with transportation professionals and creating opportunities through custom financial solutions.

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