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California Bank of Commerce Provides $5MM Revolver to Rubber Product Manufacturer

June 11, 2021, 07:34 AM
Filed Under: Manufacturing

California Bank of Commerce completed a $5 million asset-based revolving credit facility with a rubber product manufacturer. After experiencing recent losses and an exit from its existing bank, CBC was able to provide financing structured against the assets of the company, providing the company with critical operating capital. The credit facility will be used to support accounts receivable, inventory and equipment purchases.
The Southern California-based company was formed in 1910 and develops and manufactures specialty rubber products for sale throughout the U.S., including sheet rubber, rubber matting, extruded and spliced rubber, and molded rubber products.
In 2006, a strategic acquisition established the company as the largest U.S.-based sheet rubber maker in North America, further entrenching its foothold in the oil, military, transportation, construction and food services industries.

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