Richmond, Va.-based Mobility Trust Group has secured a $10 million revolving asset-based loan from Utah’s TAB Bank, as it expands services to the disabled community.
Mobility Trust, which has offices in Providence, R.I., and West Palm Beach, Fla., emerged from number of entities established since 2014 by former Ernst & Young executive Craig Baker. It started by financing wheelchair accessible vehicles and today offers funding for allied accessibility equipment, including electric wheelchairs, rehabilitation equipment, transfer beds, ramps, lifts and elevators.
“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 Baker, who has over 25 years of financial management experience. Including 17 years at Sargent Investors, R.I.
“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,” said Curtis Sutherland, TAB Bank’s head of Sales and Business Development. “The partnership has reinforced our commitment to innovative, socially responsible financing solutions.”
The Ogden, Utah-based TAB Bank’s flexible financing solution doubles Mobility Trust’s lending capacity, the company said, adding that the funding helps the trust advance the U.N. goal of making “access to assistive technology” a fundamental human right.
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At Sargent, Baker ran the auto and mortgage lending units and the retail branch network. He is also credited with creating access to the U.S. banking system for the Latino community by accepting ID cards issued by the consulates of Columbia, the Dominican Republic, Mexico, and Guatemala as a primary form of identification.
The Hispanic Chamber of Commerce conferred a lifetime honorary board membership to Baker for this service. Baker twice won the Business Man of the Year from the Rhode Island Hispanic Chamber of Commerce and Man of the Year from Progresso Latino.
Baker received a M.B.A. degree from the Ritz Carlton Leadership program and a bachelor’s degree in Accounting & Finance from Boston University’s Questrom School of Business.
