OGDEN, UT--(Marketwire - Mar 18, 2013) - TAB Bank is pleased to announce that it has provided a $5 million senior revolving credit facility for Cosby Oil Company, Inc. of Santa Fe Spring, CA. The new agreement is a multiyear term deal.
TAB Bank (@TABBank) 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 Commercial Banking Services.
Founded in 1939, Cosby Oil Company is a petroleum marketer selling diesel, gasoline, and lubricants. They are a distributor for Phillips66 and a member of the Commercial Fueling Network and the Voyager Network. Cosby uses common carriers for the transportation of all fuels and utilizes six company-owned trucks for the transportation of lubricants in Southern California.
"Everything has been very smooth since we made the decision to finalize our new credit agreement with TAB Bank. The business development team was very attentive and responsive as we worked through the various aspects of completing this transaction. The credit and underwriting teams at TAB were also outstanding. They took the time to understand our business and craft a solution that benefited both parties," commented Alan Thompson, CFO of Cosby Oil Company.
TAB Bank is excited to provide funding for an industry-leading company such as Cosby Oil Company and offer financial service and support as they continue to expand their business and serve their clients with their products and services.