TAB Bank closed $5 million in financing for Package Steel Systems, consisting of a $3.5 million revolving line of credit and a $1.5 million term loan. The funds will help the steel building manufacturer accelerate growth and maintain its position as the premier builder of metal buildings in the Northeast.   

The Package Steel story began in 1950 with Leo J. Moroney, a skilled carpenter and builder, founding a residential building business, constructing three modest homes built on empty lots in Shrewsbury, Massachusetts. Today, Package Steel has evolved into one of the largest and most versatile industrial and commercial building manufacturing companies in the area, operating across a wide range of industries. Package Steel designs, details and fabricates its own materials, which allows the company to maintain uncommonly high standards of quality control. Key products include pre-engineered steel buildings for commercial, industrial, sports, leisure, retail, institutional and self-storage sectors. 

“At TAB Bank, we focus on building unique and flexible financing solutions that build value for companies,” said Bill Bahls, Vice President of Business Development at TAB Bank. “Whether it’s factoring, lines of credit, term loans or banking services, we’ll create options specific to your business and industry. We’re excited to partner with Package Steel Systems to energize its growth strategies.”

Miles Capital Partners, a company specializing in delivering holistic, tailored and hassle-free financial solutions to businesses in the United States and Canada, brokered the deal. With over 30 years of experience in the financial services industry, Miles Capital Partners is dedicated to finding inventive solutions catered to the unique needs of clients.