Daily News: December 2, 2014

TAB Bank Provides ABL to Transportation Company

TAB Bank announced it provided a $4 million flex asset-based credit facility for a transportation company located in North Carolina.

In addition to the revolving credit facility, TAB said it also provided the company with a $2.1 million equipment term loan to purchase 60 flatbed trailers.

Established in 2008, the company is a flatbed hauler that hauls mainly steel, construction materials, and large equipment. The new facility is extended through a multi-year agreement and will be used for general working capital purposes.