Daily News: May 8, 2012

TAB Provides $3 Million to Global Information Technology


TAB Bank announced that it has provided a $3 million credit facility based on accounts receivable for Global Information Technology, Inc. of Tampa, FL. The new facility is extended through a multi-year agreement.

Founded in 1995, Global Information Technology is a consulting organization established to engineer optimal business solutions by applying and integrating existing and emerging information technologies. The company provides technology related services and solutions to a host of Fortune 1000 companies. The range of services provided by GIT includes technology integration, systems consulting, software development consulting, and management of IT projects.

“We were in need of a new lending arrangement when we were introduced to TAB Bank. We were looking for a credit facility that would provide us with working capital to manage our rapid growth and enable to us pursue and complete acquisition opportunities. We felt very comfortable with TAB’s team of commercial finance professionals. They provided solutions and support for our specific financing needs. TAB has demonstrated a great deal of commitment to us and the success of our business. I am really looking forward to having them as our lending partner,” commented Ram Ajjarapu, president and CEO of Global Information Technology.

TAB Bank provides custom working capital solutions to transportation and non-transportation companies.