Daily News: April 8, 2015

TAB Provides $17.1MM in Q1/15 Trucking Equipment Loans

TAB Bank provided $17.1 million in trucking equipment loans for 33 transportation companies during the 1st quarter of 2015. Based in different regions of the country, these companies represent a broad spectrum of trucking entities including one-truck owner-operators to small and large fleets.

“We are off to a great start in 2015 as we were able to help several trucking companies obtain the necessary financing to update their fleets. The total loan amount we closed in the 1st quarter increased by 44% from the amount we booked in the 4th quarter of 2014. We are very excited with this growth as it represents our commitment to providing financing solutions for our trucking customers,” stated Jan Allen Ackley, chief lending officer for TAB Bank.

While FDIC-insured TAB Bank provides working capital and other financial solutions to a variety of industries such as manufacturing, staffing, and technology, the bank’s first industry was trucking. In addition to equipment finance, these financial solutions are provided in the form of accounts receivable financing, asset based loans, lines of credit, business accounts, and treasury management services.