Bridge Bank Provides $ 10 Million Asset Loan Facility to Zuum Transportation

SAN JOSE, Calif .– (COMMERCIAL THREAD) – Bridge Bank today announced that its Capital Finance group has entered into a $ 10 million asset loan facility for Zuum Transportation Inc., a California-based logistics technology provider for manufacturers, freight brokers and carriers.

“It’s gratifying to work with a company like Zuum that makes a difference for such a large stable of internationally recognized clients,” said Justin Vogel, senior vice president of Capital Finance at Bridge Bank. “Bridge Bank appreciates the innovation that Zuum brings to the logistics industry. ”

Founded in 2016, Zuum clients include Tyson, Sherwin Williams, and Staples. The company offers Shipper Transportation Management Systems (TMS), Freight Broker Software, Carrier TMS and Mobile App for Truck Drivers that are connected within the logistics super platform. ‘business. The tools allow customers to improve the efficiency and effectiveness of their logistics operations while simultaneously automating their transportation networks.

“We are committed to smooth processes and increased efficiency, the same qualities that Bridge Bank brings to clients,” said Matt Tabatabai, co-founder and COO of Zuum. “Our goal is to defragment the logistics industry through collaboration and partnerships, including with our lender. ”

Bridge Bank’s Capital Finance group offers a range of asset 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 experience unusual market conditions that may hamper their ability to comply with covenants and debt structures. traditional credit.

About Bridge Bank

Bridge Bank, a division of Western Alliance Bank, a member of the FDIC, helps corporate clients achieve their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small and medium businesses in many industries, as well as for emerging technology companies and the private equity community. Aimed at serving both venture capital and non-venture capital funded businesses, Bridge Bank offers a wide range of financial solutions, including credit facilities for capital, equipment and working capital. , risk debt, cash management, asset lending, SBA and commercial real estate. loans, ESOP financing and a full range of international products and services. Headquartered in San José, Bridge Bank has 16 offices in major markets across the country as well as Western Alliance Bank’s powerful portfolio of specialized financial services. Western Alliance Bank is the principal subsidiary of Phoenix-based Western Alliance Bancorporation, with more than $ 50 billion in assets. Western Alliance is once again # 1 of the 50 largest US public banks in the new S&P Global Market Intelligence list for 2020 and tops the Forbes list of “America’s best banks” year after year. For more information, visit bridgebank.com.

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