TAB Bank has provided a $2 million revolving asset-based line of credit for a Canadian medical supply chain financing and logistics company. The company opened a $2 million Certificate of Deposit at TAB Bank to serve as collateral on the loan.
This strategic move allows the company to earn a return on its deposit while simultaneously building its commercial borrowing profile.
“The medical supply chain solution provider’s decision to utilize TAB Bank’s high-yield CD as collateral is a smart, forward-thinking strategy,” Ryan Gabriel, vice president and business development officer for the Pacific Northwest and Western Canada at TAB Bank, said. “It also highlights one of TAB’s key strengths—offering competitive deposit products that work hand-in-hand with our lending solutions to build value for our clients.”
