OGDEN, UT--(Marketwire - Jul 12, 2012) - TAB Bank is pleased to announce it has provided a $6 million credit facility to LTI Trucking Services, Inc. of St. Louis, MO.
TAB Bank (@TABBank) provides custom working capital solutions to commercial businesses from many industries including transportation. These solutions are provided in all stages of business life cycles during any economic conditions. TAB Bank does this through Accounts Receivable Financing, Lines of Credit, Equipment Loans, Asset Based Loans, Business Accounts, and Commercial Banking Services.
LTI Trucking Services, formerly known as Lanter Transport, was established in 1975 as the truckload division of the Lanter Company. In October 2005, Nicholas Civello acquired Lanter Transport and changed the operating name to LTI Trucking Services, Inc. LTI is now an independent truckload carrier and logistics company based in the Midwest. The company provides transportation services nationwide through its regional, long haul, dedicated, and shuttle services.
"We made the switch to TAB Bank for our primary lending relationship in order to efficiently manage our sustained and consistent growth. We were very happy with our previous bank, but they could no longer accommodate our working capital needs based on their size and their legal lending limit. Our new facility with TAB Bank gives us the room and flexibility to continue our expansion objectives. We have been very pleased with the process in getting us up and running with TAB. I fully anticipate this new relationship to be mutually beneficial for both companies," stated Phil Hamel, CFO of LTI Trucking Services, Inc.