SOURCE: TAB Bank

TAB Bank

March 16, 2011 11:45 ET

TAB Bank Provides $5 Million Facility for MidStates Capital

OGDEN, UT--(Marketwire - March 16, 2011) - TAB Bank is pleased to announce that it has provided a $5 million facility for MidStates Capital, LLC of Brighton, MI.

MidStates, through Sterling Commercial Credit, provides asset based lending solutions to small and medium sized businesses by purchasing credit worthy accounts receivable (factoring) and providing asset based lines on credit.

Sterling's targeted customer base consists of businesses with total annual revenue under $5,000,000 and in need of credit facilities from $20,000 to $2,000,000.

MidStates is a recipient of TAB's expanded offering, the Lender Solutions Suite, which primarily provides funding for specialty finance companies such as factors, asset-based lenders, inventory financers, purchase order funders and the like. TAB focuses on companies with experienced management in need of facilities ranging from $3 million to $10 million. 

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