TAB Bank provided a $2.5 million factoring facility to Ryan Transportation, a Livonia, Michigan-based truckload transportation provider. The facility is aimed at strengthening cash flow and working capital.
“TAB Bank offered us a straightforward financing solution that optimized our cash flow and enhanced our working capital, enabling us to keep our focus on running our business effectively,” Jennifer Orow, chief financial officer at Ryan Transportation, said. “The team at TAB is very flexible, easy to work with and accommodating of our company’s specific needs. We’re looking forward to a mutually beneficial relationship with TAB Bank.”
“Ryan Transportation was seeking a new financing partner with a strong understanding of the trucking industry,” Ralph Kourtjian, vice president of business development at TAB Bank, said. “At TAB Bank, we have deep roots in the transportation industry, originally founded over 25 years ago to serve over-the-road truckers. While we now support a wide range of industries, our commitment to logistics and freight remains. We’re excited to support Ryan Transportation with a flexible solution that aligns with their goals and operational needs.”
