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TAB Bank Provides $4MM ABL to Transportation Company

December 02, 2014, 07:33 AM
Filed Under: Transportation

TAB Bank announced it has provided a $4 million flex asset-based credit facility for a transportation company located in North Carolina.  Established in 2008, the company is a flatbed hauler that hauls mainly steel, construction materials, and large equipment.  The new facility is extended through a multi-year agreement and will be used for general working capital purposes.  In addition to the revolving credit facility, TAB Bank has also provided the company with a $2.1 million equipment term loan to purchase 60 flatbed trailers.  

A flex asset-based loan from TAB Bank combines the flexibility of a factoring line of credit with the structure of an asset-based lending facility.  With this type of financing, a business borrower can receive significant liquidity based on accounts receivable and eligible inventory.

Robert Gole is TAB Bank’s Vice President and Business Development Officer based in Atlanta.  Gole is an asset-based lending veteran with over thirty years of experience in the industry.

TAB Bank provides custom working capital solutions to commercial businesses from many industries.  These solutions are provided in all stages of business life cycles during any economic conditions.  TAB Bank does this through accounts receivable financing, lines of credit, equipment finance, asset based loans, business accounts, and treasury management services.

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