TAB Bank Provides $1 Million to ProStar Trucking
TAB Bank announced it has provided ProStar Trucking, LLC of Salt Lake City, UT with a $1 million credit facility. The new facility is based on accounts receivable and has been extended through a multi-year agreement.
ProStar Trucking was founded and began operations in March 2011. It specializes in the hauling of water, both completions water and production water, in the North Dakota Bakken region. The company operates 19 truck and trailer sets with an additional six water tankers it brokers out to owner-operators.
“TAB was chosen over our other banking relationships to handle this critical credit facility because of their expertise and understanding in the industry. Our new credit arrangement with TAB is going to be a great asset for our company. We are poised to pursue growth opportunities as never before. TAB is a great financial partner. We truly appreciate their service and support and we look forward to working closely with them in the years to come,” stated Casey Adams, chief operating officer for ProStar Trucking.
TAB Bank said in a news release that it is very excited to assist a company such as ProStar Trucking as it continues to grow its business and succeed in today’s economic environment.
TAB Bank provides custom working capital solutions to commercial businesses from many industries.