TAB Bank sees truck leasing hit annual high

Utah-based TAB Bank has announced it provided $43.6 million in trucking equipment loans for 209 transportation companies during Q4 2015, marking the high point of one of its most successful years.

Asset-based loans and leases were made to companies based in different regions of the country representing a broad spectrum of trucking entities including one-truck owner operators to small and large fleets.

“We are very pleased with our lending activity throughout 2015. It proved to be a tremendous year and we could not be more satisfied. The TAB team is privileged to partner with many trucking companies and provide them with the equipment financing they need to upgrade their fleets by purchasing new and used equipment. We ended the year on a very strong note and we are poised to build on this momentum in the upcoming year,” stated Jan Allen Ackley, chief lending officer at TAB Bank.

Ackley continued: “We have been an industry leader for many years in providing financing solutions to trucking companies. It is very common for our clients in the trucking industry to utilize both our equipment financing and working capital funding due to our expertise, knowledge of the industry, and interest rate structure. TAB team members are experts in commercial finance and finding solutions to tough financing problems. This expertise was used to help a multitude of companies in various industries during 2015 which will continue in the coming year.”