What is APY (Annual Percentage Yield)? — Meaning Defined & How to Calculate
During your monthly budgeting routine, you check out one of your savings accounts and find that the interest rate pays 0.25% APY. Is that good or bad? Is your bank giving you a competitive rate? What does APY mean in terms of the money in your account? APY is your real rate of return on…
Banking as a Service (BaaS) – What is it?
in BlogThere are a lot of hurdles that can slow down or even derail the customer journey. Today’s buyers want convenience and speed, and are quicker than ever to abandon their journey when faced with a poor experience. In fact, more than 60% of consumers say that their standards for customer service are rising, but 54%…
What is Invoice Factoring and How Does It Work?
in BlogIf you’re a company that has slow-flowing cash invoices, cash flow might be tight now and again. Currently, you might have cash tied up in unpaid invoices that keep you from accomplishing your business goals. Some companies might wonder if there’s anything they can do to change that. One option for some companies is to…
Trucking Business Loans
in BlogIf you own a trucking company, you know how expensive commercial trucks and other equipment can be. And even if business is going well, you may not have the funds on hand to purchase new equipment or hire new employees when needed, so how can you find the money to do so and keep your…
What Are Working Capital Loans and Why You Should Consider Them
in BlogHaving working capital available is essential for any business to succeed. Working capital loans offer companies a reliable way to finance operations and manage cash flow, allowing them to cover costs associated with running their business while also taking advantage of new opportunities that arise. With working capital loans, businesses can manage invoice delays, plan…
Fintech Partnerships with Banks: All You Need to Know
in BlogWhen you use your card on an app, very often the way that’s handled is through a powerful partnership between a financial technology company (fintech) and a bank. But how do these partnerships work? Are they beneficial? Read on to learn all you need to know about fintech partnerships with banks. What Is a Fintech…
TAB Bank Provides Commercial Truck Parts Distributor in Texas with a $5 Million Asset-Based Credit Facility
OGDEN, Utah, Nov. 30, 2022 (GLOBE NEWSWIRE) — TAB Bank is pleased to announce it has provided a commercial truck parts distributor in Texas with a $5 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company is a mid-market commercial truck…
Fintech Solutions Partnerships
in BlogAlthough the history of financial technology stretches back to the first electronic funds-transfer systems of the early 20th century, the true potential of fintech has only recently become apparent. With the advent of easily-available smart-device technology, new financial services (such as online/mobile banking) and currency systems (such as cryptocurrency) further cemented the connection between finance…
What Is A High-Yield Savings Account?
in BlogA high-yield savings account is a bank account that will typically pay a higher interest rate than a standard savings account. The best high-yield savings accounts are frequently offered online, although they are not limited to internet-only banks. The concept behind high-yield savings accounts is that depositors are more willing to save if they can…
How to Start a Trucking Company in 6 Steps
Opening a business is no easy feat, especially in the trucking industry. The transportation industry is highly competitive and continues to grow. If you are interested in starting a trucking business, there are a few things you need to be aware of. Before you can get your freight on the road making deliveries, several government…
TAB Bank Provides Beverage Company in Canada with a $5 Million Asset-Based Credit Facility
OGDEN, Utah, Oct. 25, 2022 (GLOBE NEWSWIRE) — TAB Bank is pleased to announce it has provided a beverage company based in British Columbia, Canada with a $5 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. In addition, the new facility from…
Freight Factoring: Your Ultimate Guide
Freight factoring, also called transportation factoring or trucking factoring, has been around for quite some time. Yet freight company owners and truck drivers tend to see factoring as a new fad. They misinterpret factoring as companies looking to make money rather than having their interest in mind. However, factoring has been around for a long time…
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