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TAB Bank Provides Commercial Geoscience Company in Alaska $2MM Asset-Based Credit Facility

May 11, 2023, 07:00 AM
Filed Under: Specialty Industries
Related: TaB Bank

TAB Bank provided a geoscience company in Alaska with a $2 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.

The company is an environmental testing, sampling, and pre-remediation services company that specializes in soil sampling, groundwater sampling, membrane interface probing, gas chromatography, augur drilling, well monitoring, and bioremediation services.

Prior to coming to TAB Bank, the company was using an expensive factoring facility with a publicly traded lender that had recently been acquired by a larger New York based bank, prompting the client to seek a better lending relationship. TAB is very pleased to be that “better lending relationship”.

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