Bridge Bank Provides $10 Million Asset-Based Loan Facility to Zuum Transportation
January 12, 2022
San Jose, Calif.
Bridge Bank today announced its Capital Finance Group has closed on a $10 million asset-based loan facility for Zuum Transportation Inc., a California-based logistics technology provider for manufacturers, freight brokers and carriers.
“It’s rewarding to work with a company like Zuum that is making a difference for such a great stable of internationally recognized clients,” said Justin Vogel, senior vice president in Bridge Bank’s Capital Finance Group. “Bridge Bank appreciates the innovation Zuum brings to the logistics industry.”
Founded in 2016, Zuum’s clients include Tyson, Sherwin Williams and Staples. The company offers shipper transportation management systems (TMS), freight broker software, carrier TMS and a mobile app for truck drivers who are connected within the company’s Logistics Super Platform. The tools enable customers to enhance the efficiency and effectiveness of their logistics operations while simultaneously automating their transportation networks.
“We’re all about smooth processes and enhanced efficiencies, the same qualities Bridge Bank brings to clients,” said Matt Tabatabai, co-founder and chief operating officer of Zuum. “Our goal is to defragment the logistics industry through collaboration and partnerships — including with our lender.”
The Capital Finance Group at Bridge Bank offers a range of asset-based lending and factoring solutions, including accounts receivable, inventory and invoice financing, to provide lines of credit and working capital. The group’s expertise supports companies in manufacturing, professional services, retail, technology and more that are experiencing unusual market conditions that might hamper their ability to adhere to traditional covenants and credit structures.
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small to mid-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions, including startup banking, capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans and a full line of international products and services. Based in San Jose, Bridge Bank has 15 offices in major markets across the country, along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, with more than $60 billion in assets. Western Alliance is #2 best-performing of the 50 largest public U.S. banks in the S&P Global Market Intelligence listing for 2021 and ranks high year after year on the Forbes list of “America’s Best Banks.”