Advance Business Capital, a provider of for-hire transportation factoring, announced a strategic alliance with Triumph Savings Bank that it says will expand its financial strength, capabilities and footprint. ABC says the alliance, created through Triumph Commercial Finance, will allow it to broaden its menu of products to include asset-based lending, equipment financing and ancillary services.
“The partnership is a win-win,” says Steve Hausman, ABC president and chief executive officer. “Triumph and ABC are an excellent culture fit and have a similar philosophy based on transparency, innovation and adherence to core business values. Now our footprint is expanding to cover a lot more ground.”
ABC further expects to augment its customer base, capitalizing on the expansive markets served by Triumph. “Through this alliance, we can do more of what we do best, and the same is true for Triumph,” says George Thorson, ABC executive vice president and chief operating officer. “ABC will have secured increased financial backing as it continues on a path of stable and sustained growth. Our clients will be the big winner in this endeavor.”