TAB Bank Funds Two Trucking Companies in the West
TAB Bank announced the funding of two trucking companies in the Western U.S.
The first transaction was closed with a trucking company in Idaho. TAB provided them with a $1 million line of credit based on accounts receivable. In addition, the company received $550 in an equipment term loan. They are also utilizing TAB’s Treasury Management Services to meet their business banking and online cash management requirements. This new relationship demonstrates TAB’s ability to be any commercial entity’s total business partner with regard to their lending and banking needs.
The second transaction was closed with a trucking company in Montana. TAB provided them with a $750,000 factoring facility as well as $2.6 million in an equipment term loan. Both loans will be used to pay off the company’s previous lender and to provide for their ongoing working capital needs.