Daily News: May 23, 2014

TAB Provides ABL to Transportation Company

TAB Bank announced it has provided a $2.5 million asset-based lending facility for a transportation company located in the Northeast. The company is a long-haul, dry van carrier that operates 66 tractors and 185 trailers.

In addition to transportation services, the company also offers warehousing and distribution, packaging and light assembly, and consultation services. Proceeds from the facility will be used to pay off the previous lender and to provide for the ongoing working capital needs of the company.