Advance Business Capital Forms Alliance With Savings Bank
For-hire transportation factoring company Advance Business Capital (ABC) announced is has formed a strategic alliance with Triumph Savings Bank that will greatly expand its financial strength, capabilities and footprint.
The alliance, created through Triumph Commercial Finance, will allow ABC to broaden its menu of products to include asset based lending, equipment financing and ancillary services. ABC further expects to augment its customer base, capitalizing on the expansive markets served by Triumph.
President, CEO Steve Hausman and his management team led the partnering negotiations for ABC. An industry veteran, Hausman has 30 plus years of experience and is widely credited with ABC’s full-throttle success.
Since taking the wheel, Hausman has led the company to achieve solid year-to-year growth. The customer base currently exceeds 600 active clients, including owner operators, mid-sized carrier fleets, and transportation intermediaries.
Hausman attributes ABC’s success to a skilled management team, its risk management programs and the value added services provided through strategic business partners.
Hausman said, “The partnership is a win/win. Triumph and ABC are an excellent culture fit and have a similar philosophy based on transparency, innovation and adherence to core business values. Now our footprint is expanding to cover a lot more ground.”
George Thorson, the company’s EVP and chief operating officer, said, “Through this alliance, we can do more of what we do best–and the same is true for Triumph.” ABC will have secured increased financial backing as it continues on a path of stable and sustained growth. “Our clients will be the big winner in this endeavor.”
Dallas, TX-based Advance Business Capital was founded in 2004 by leaders in the transportation and commercial finance industries.