SOURCE: TAB Bank

TAB Bank

June 25, 2015 11:20 ET

TAB Bank Closes Three Working Capital Facilities in California Totaling $3.35 Million

OGDEN, UT--(Marketwired - Jun 25, 2015) - TAB Bank is pleased to announce the closing of three working capital facilities in California totaling $3.35 million. Each funding represents TAB's commitment in providing working capital financing solutions and ongoing support to small and medium-sized commercial businesses across the United States.

The first transaction was closed with an architectural lighting manufacturer for commercial buildings. TAB has provided a $1.85 million line of credit based on accounts receivable with an inventory sub-limit of $750 thousand. The new facility will provide for the company's ongoing working capital needs as their business expands and grows.

The second transaction was closed with a company that provides sterile bottling facilities for liquids for human consumption. In addition to the $500 thousand asset-based revolving line of credit, TAB has also provided the company with a $4.4 million equipment term loan.

Finally, the third transaction was closed with a wholesaler of outdoor games, toys, and beach accessories. TAB has provided the company with a $1 million revolving line of credit based on accounts receivable. As with the other two transactions, this facility will provide for the company's ongoing working capital needs.

TAB Bank provides custom working capital solutions to commercial businesses from many industries. These solutions are provided in all stages of business life cycles during any economic conditions. TAB Bank does this through Accounts Receivable Financing, Lines of Credit, Equipment Finance, Asset Based Loans, Business Accounts, and Treasury Management Services.

Brett Horwitz is TAB Bank's Vice President and Business Development Officer based in Southern California. Brett has years of experience developing client relationships and structuring credit facilities in the asset-based lending arena. Brett can be reached at 949.466.5255 or at brett.horwitz@tabbank.com.

Contact Information

  • Contact Information:

    Trevor Morris
    Director of Marketing
    801-624-5172
    trevor.morris@tabbank.com
    Twitter - @TABBank
    Facebook - facebook.com/TABbank