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TAB Bank Provides $7MM Credit Facility to Fuel Transportation Company’s Growth

July 09, 2024, 07:48 AM
Filed Under: Transportation

TAB Bank 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.

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