Lumber exporter and secondary manufacturer Patrick Lumber Company has closed on a $20 million loan from U.S. Bank to support its growth and provide working capital.

Founded in 1915, Portland, OR-based Patrick Lumber sells niche high-grade softwood products to distributors throughout the world in truckload, container, and railcar volumes. The firm also has a subsidiary, Wood Source, that sells to residential and commercial contractors in the greater Denver metro area.

“Patrick Lumber over the years has shown a thoughtful approach to growth – both domestically and abroad – centered on their commitment to quality products and customer service,” said Sam Philbrick, president of U.S. Bank Asset Based Finance.

U.S. Bank’s financing is in the form of an asset-based credit line. U.S. Bank Asset Based Finance is one of the nation’s leading asset-based lenders providing financing for middle-market and large cap companies in a wide range of industries, such as lumber and building supplies, in the United States and Canada. The financing supports working capital, growth, acquisitions and turnarounds.

U.S. Bancorp, with $422 billion in assets as of December 31, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States.