OGDEN, Utah — TAB Bank has closed a $4 million asset-based lending (ABL) facility and $2.5 million equipment loan with HydroEdge Solutions, a water transfer and fluid management services provider for the energy industry. The financing will support HydroEdge Solutions’ operational expansion and growth initiatives.
Based in Canonsburg, Pa., HydroEdge Solutions specializes in fluid management solutions, ensuring seamless transfer of fluids from source to destination without leaks, interruptions or incidents. The company offers automation, trucking and water transfer services with a focus on safety and environmental responsibility.
“We are excited to partner with HydroEdge Solutions in providing tailored financial solutions to support its growth,” said Bill Bahls, Vice President of Business Development at TAB Bank. “TAB Bank specializes in supporting innovative companies like HydroEdge with a combination of working capital and equipment financing. The right balance of financing types allows companies to acquire the necessary equipment while maintaining the liquidity they need for operational and scalable growth.”
TAB Bank structured the deal as an accounts receivable-only ABL facility, with initial funding of $4.4 million comprising both ABL and new equipment funding lines. This combined financing approach supports HydroEdge Solutions’ growth trajectory while enhancing operational stability.
“We have really enjoyed working with the team from TAB Bank,” said John Folino, CFO of Myers Water Transfer, LLC dba HydroEdge Solutions. “They have been instrumental in crafting a credit solution unique to our company’s needs that will prove to be vital as we scale. We look forward to continuing to work with them in the months and years to come as a trusted financial partner.”
TAB Bank offers customized financial solutions to small and midsized businesses across various industries, specializing in asset-based lending, equipment financing and working capital solutions.
