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TAB Bank Provides $43.9MM in Trucking Equipment Loans in Q3

October 05, 2015, 07:07 AM
Filed Under: Transportation

TAB Bank provided $43.9 million in trucking equipment loans for 144 transportation companies during the 3rd quarter of 2015.  Based in different regions of the country, these companies represent a broad spectrum of trucking entities including one-truck owner operators to small and large fleets.

“We are committed to providing smartly engineered trucking equipment financing solutions to a growing number of customers in the trucking industry.  We had a fantastic third quarter and we look forward to continuing to grow our trucking equipment loan portfolio,” commented Jan Allen Ackley, Chief Credit Officer at TAB Bank.

Ackley continued, “In addition to providing financing for trucking equipment, we also offer customized working capital solutions through our Accounts Receivable Financing and Asset Based Lending programs.  Many times, our clients in the trucking industry utilize both our equipment financing and working capital funding due to our expertise and knowledge of the industry.  Our commercial finance and business banking teams are full of professionals with years of experience in not only providing financial service and support to trucking companies, but businesses from many other industries as well, such as manufacturing and distribution, technology, temporary staffing, and many others.”

While FDIC-insured TAB Bank provides working capital and other financial solutions to a variety of industries such as manufacturing, staffing, and technology, the bank’s first industry was trucking.  In addition to Equipment Finance, these financial solutions are provided in the form of accounts receivable financing, asset based loans, lines of credit, business accounts, and treasury management services.

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