Daily News: April 3, 2014

TAB Bank Closes Two Factoring Facilities Totaling $450K

TAB Bank announced the closing of two factoring facilities totaling $450,000.

The first transaction was closed with a medical staffing company located in the Intermountain West. TAB provided a $250,000 facility based on a multi-year agreement. The company specializes in permanent and temporary physician and registered nurse staffing needs for hospitals, clinics and private offices.

The second transaction was closed with an auto body repair shop located in the upper Midwest. TAB has provided a $200,000 facility which will be used to pay down the company’s existing accounts payable and support their ongoing working capital needs as the business grows. The company provides its auto body repair services for transportation companies.

Each funding represents TAB’s commitment in providing custom financial solutions to small and medium-sized businesses across the U.S.