TAB Bank Provides $7 Million Credit Facility to Fuel Transportation Company’s Growth
/EIN News/ -- OGDEN, Utah, July 09, 2024 (GLOBE NEWSWIRE) -- TAB Bank has extended a $7 million credit facility to a family-owned transportation and brokerage company in the Southeast. The partnership will support the company’s growth and evolving working capital needs.
TAB Bank previously worked with the transportation company as a factoring client from 2011 to 2017. The initial funding amount for this agreement is $7 million, representing a substantial investment in its continued expansion and success.
“With TAB Bank’s deep roots in the transportation industry, we are well positioned and excited to help this company with their remarkable growth trajectory,” said Austin Strong, CEO of TAB Bank.
Strong continues, “This funding agreement is a testament to TAB’s dedication to fostering long-term relationships with its clients and supporting their financial needs at every growth stage. This commitment furthers TAB’s mission of unlocking dreams with bold financial solutions that lift and empower.”
The company’s operations, spanning Georgia, North Carolina, Ohio, South Carolina, Tennessee and Texas, began modestly with three company trucks. The family-owned enterprise has evolved into a remarkable success story with a fleet of more than 200 tractors and more than 500 trailers.
About TAB Bank
At TAB Bank, our mission is to unlock dreams with bold financial solutions that empower individuals and businesses nationwide. We are committed to making financial success accessible to everyone through our innovative banking products. Our dedication drives us to continuously improve, ensuring that we meet the evolving needs of our clients with excellence and agility. For over 25 years, we have remained steadfast in offering tailored, technology-enabled solutions designed to simplify and enhance the banking experience.
For more information about how we can help you achieve your financial dreams, visit www.TABBank.com.
Contact Information:
Trevor Morris
Director of Marketing
801-624-5172
trevor.morris@tabbank.com
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