OGDEN, Utah, March 24, 2021 (GLOBE NEWSWIRE) — TAB Bank is pleased to announce it has provided a $5 million rediscount credit facility for a trucking factoring company based in Michigan. The facility is based on a multi-year agreement and will provide the means necessary to grow and expand the company’s growing portfolio.
The company was primarily looking for a funding partner with experience in lending to and financing companies in the trucking industry. Their search led them to TAB Bank.
TAB Bank provides custom working capital solutions to commercial businesses across a wide range of industries. These solutions can be customized to meet the needs of companies in all stages of the business life cycle and during any economic conditions. TAB Bank does this through a variety of asset-based structures including Asset-Based Revolving Loans, Accounts Receivable Financing, Lines of Credit, and Equipment Finance. TAB’s lending options can also be combined with a full suite of business banking solutions and Treasury Management Services.
Ralph Kourtjian is TAB Bank’s Vice President and Business Development Officer based in Detroit. Ralph has years of experience developing client relationships and structuring credit facilities in the asset-based lending arena. Ralph can be reached at 947-465-1703 or at ralph.kourtjian@tabbank.com.
