OGDEN, Utah, Oct. 10, 2024 (GLOBE NEWSWIRE) -- TAB Bank has extended a $10 million revolving Asset-Based Loan (ABL) to Mobility Trust Group, a company specializing in financing mission-critical assistive technology products, including wheelchair-accessible vehicles and home accessibility equipment for people living with disabilities. The loan enables Mobility Trust to secure the liquidity needed for growth while continuing to focus on the needs of a vital and underserved community.
In addition to expanding Mobility Trust’s capacity to finance wheelchair-accessible vehicles, the $10 million warehouse line of credit loan will also enable the company to grow its home modification and accessibility equipment divisions, financing essential products such as wheelchairs, stair lifts, home transfer systems, and home elevators.
“It’s rewarding when the power of asset-based lending is both financially successful and socially impactful. We are excited to support Mobility Trust in its vital social mission to provide equitable access to society,” said Curtis Sutherland, Head of Sales and Business Development at TAB Bank. “Mobility Trust’s mission closely aligns with our own—unlocking dreams with bold financial solutions that lift and empower—especially to serve the needs of the underserved. The partnership has reinforced our commitment to innovative, socially responsible financing solutions.”
TAB Bank’s large and flexible financing solution doubles Mobility Trust’s lending capacity. It opens avenues that allow it to pursue both its existing core business and grow new channels, which expand access to its lending products.
“Together, TAB Bank and Mobility Trust are making the world a more inclusive place. We are driving down the cost of ownership of the essential use equipment and technologies, making it more affordable and obtainable so that people with disabilities can achieve their full potential,” said Craig Baker, Mobility Trust’s President. “The United Nations recognizes the importance of access to the equipment Mobility Trust finances. In 2018, the UN declared that ‘access to assistive technology is a fundamental human right and a precondition for equal opportunities and the participation of all.’ We are grateful to the TAB Team for the support of our mission execution. Their enthusiasm and dedication to empowering communities has shone through every step of this journey. We are grateful to their leadership team for recognizing these critical needs and trusting us to continue to expand our impact. This milestone represents more than just a funding; it’s the beginning of a shared vision to bring greater access and opportunity to people with disabilities.”
About TAB Bank
At TAB Bank, our mission is to unlock dreams with bold financial solutions that empower individuals and businesses nationwide. We are committed to making financial success accessible to everyone through our innovative banking products. Our dedication drives us to continuously improve, ensuring that we meet the evolving needs of our clients with excellence and agility. For over 25 years, we have remained steadfast in offering tailored, technology-enabled solutions designed to simplify and enhance the banking experience.
For more information about how we can help you achieve your financial dreams, visit www.TABBank.com.
About Mobility Trust Group:
Mobility Trust is a national lender operating from offices in Richmond, VA, Providence, RI, and West Palm Beach, FL. The company finances essential assistive technology equipment, accessible vehicles, and home modifications to support critical accessibility needs of the 36 million people living with mobility limitations in the U.S. The Mobility Trust Group works to create a more diverse, inclusive, and just society where everyone has the chance to access life and all that it offers. To learn more, visit www.mobilitytrust.com.
Contact Information:
Trevor Morris
Director of Marketing
801-624-5172
trevor.morris@tabbank.com
Andi Mayer
Marketing Director
804-918-9608
amayer@MobilityTrust.com
1108 E Main Street, Suite 200
Richmond, VA 23219
