TAB Bank Opens Small Ticket Accounts Receivable Financing Office in Texas
OGDEN, Utah, Oct. 27, 2020 (GLOBE NEWSWIRE) — TAB Bank is pleased to announce it has opened a Small Ticket Accounts Receivable (STAR) Financing office in Plano, Texas. The new office has a team of 22 commercial finance professionals and will underwrite and manage credit facilities under $1 million. Approximately 400 existing customer relationships will be managed in the Texas office with that number expected to grow significantly in the coming months.
The Texas office will provide facilities for all commercial industries with the exception of medical and construction. They will specifically be focused on deals in the transportation industry including oil and gas companies. The Texas office will also provide equipment finance. Most facilities and equipment loan transactions will be underwritten in 24 to 48 hours.
“TAB loves trucking and TAB loves Texas. It seems only natural that TAB chose to open a cutting-edge facility in Plano. Since 1998, TAB Bank has been one of the most reliable sources of transportation factoring, and our new office will allow us to better serve our existing customers and welcome new customers with the finest customer care. We are a bank that’s focused on innovation, and we will soon be rolling out a comprehensive suite of products and services for our customers. It’s a great time to be a TAB Bank customer,” stated Curtis Sutherland, Senior Vice President of 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.