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TAB Bank Provides $5MM Facility to Cosby Oil Company

March 18, 2013, 03:00 PM
Filed Under: Distribution

TAB Bank announced 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.

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 provides custom working capital solutions to commercial businesses from many industries and in all stages of business life cycles during any economic conditions.

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