TAB Bank 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 (CD) at TAB Bank to serve as collateral on the loan. 

TAB Bank’s high-yield CD rate, currently at a 4.15% Annual Percentage Yield (APY), is a primary reason the medical supply chain solution provider chose to work with TAB. This strategic move allows the company to earn a return on its deposit while simultaneously building its commercial borrowing profile.

The company offers supply chain financing and logistics support tailored specifically for North American medical service providers purchasing from local and global manufacturers. It provides a data-driven approach to procurement, inventory and end-to-end supply chain management of essential medical commodities, such as surgical supplies and medical devices for healthcare providers.

“The medical supply chain solution provider’s decision to utilize TAB Bank’s high-yield CD as collateral is a smart, forward-thinking strategy,” said Ryan Gabriel, Vice President and Business Development Officer for the Pacific Northwest and Western Canada at TAB Bank. “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.”