TAB Bank Provides $6MM Credit Facility to LTI Trucking
TAB Bank announced it has provided a $6 million credit facility to LTI Trucking Services, an independent truckload carrier and logistics company based in St. Louis, MO.
LTI Trucking Services, formerly known as Lanter Transport, was established in 1975 as the truckload division of the Lanter Company. In October 2005, Nicholas Civello acquired Lanter Transport and changed the operating name to LTI Trucking Services. The company provides transportation services nationwide through its regional, long haul, dedicated and shuttle services.
“We made the switch to TAB Bank for our primary lending relationship in order to efficiently manage our sustained and consistent growth. We were very happy with our previous bank, but they could no longer accommodate our working capital needs based on their size and their legal lending limit. Our new facility with TAB Bank gives us the room and flexibility to continue our expansion objectives. We have been very pleased with the process in getting us up and running with TAB. I fully anticipate this new relationship to be mutually beneficial for both companies,” stated Phil Hamel, CFO of LTI Trucking Services.