SOURCE: TAB Bank

TAB Bank

June 02, 2015 11:25 ET

TAB Bank Closes Two Transactions in California Totaling $1.25 Million

OGDEN, UT--(Marketwired - Jun 2, 2015) - TAB Bank is pleased to announce the closing of two factoring facilities in California totaling $1.25 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 a manufacturing and distribution company of household cleaning products. TAB has provided a $750 thousand line of credit based on accounts receivable with an inventory sub-limit of $250 thousand. The new facility is extended through a multi-year agreement, will pay off the company's previous lender, and will provide for their ongoing working capital needs.

The second transaction was closed with a manufacturing company of outdoor products. Specifically, the company specializes in the design and production of utility and motorcycle trailers as well as trailer and lift accessories. TAB has provided a $500 thousand line of credit based on accounts receivable with an inventory sub-limit of $150 thousand.

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