BAMFi, a leading provider of software for the secured lending industry, will continue to own FactorCloud, its proprietary, all-in-one, cloud-based secured lending software solution
TAB Bank is pleased to announce it has finalized the acquisition of BAMFi’s $46 million BAM Capital Division. This is TAB Bank’s fourth successful completed acquisition of a working capital loan portfolio. As part of the acquisition TAB will retain the operations and staff at BAM’s office in Dallas, TX.
BAMFi, a leading provider of software for the secured lending industry, will continue to own FactorCloud, its proprietary, all-in-one, cloud-based secured lending software solution.
“This is a great acquisition for TAB Bank, and we are very excited to welcome BAM’s customers. These new customers represent a wide range of industries including transportation, transportation brokerages, staffing, oil & gas, manufacturing, and distribution. We are also very pleased to welcome BAM’s staff in Dallas to our team. This is a great opportunity for us to expand our footprint in Texas through the Dallas/Ft. Worth market. We have a long history of providing working capital solutions and support to small to medium-sized businesses and we are thrilled to extend our offerings to our new clients. In addition to our focus on providing working capital lines of credit, we are excited to offer BAM’s customers a full suite of business banking solutions and Treasury Management Services, which will allow them greater flexibility, efficiency, and cost-savings in managing their capital,” stated Curtis Sutherland, Senior Vice President at TAB Bank.
Terms were not disclosed.
Source: Company Press Release