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TAB Bank Provides $25.3 Million in Trucking Equipment Loans in 2nd Quarter

July 07, 2016, 07:09 AM
Filed Under: Transportation

TAB Bank announced it provided $25.3 million in trucking equipment loans for 195 transportation companies during the 2nd quarter of 2016.  Based in different regions of the country, these companies represent a broad spectrum of trucking entities ranging from one-truck owner operators to small and large fleets.

“At TAB Bank, we have one of the largest portfolios of trucking factoring and asset-based lending relationships in the industry.  We have taken many of these relationships a step further and are partners with them in their equipment finance and treasury management needs.  Our team has worked diligently to make the equipment finance process as smooth as possible and we are thrilled to use the many advantages we have to benefit our existing and prospective clients.  Our lending teams find solutions to tough financing problems as well as have the tools, such as treasury management, to make for a tremendous customer experience.  Our most recent quarterly financing results demonstrate TAB’s commitment to not only the trucking industry, but many other industries where companies need a financing solution,” commented Jan Allen Ackley, Chief Lending Officer for TAB Bank.

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, TAB FAST Financing, asset based loans, lines of credit, business accounts, and treasury management services.

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