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TAB Bank Closes Two Transactions in Ohio Totaling $2.75MM

March 24, 2015, 07:34 AM

TAB Bank announced the closing of two factoring facilities in Ohio totaling $2.75 million.  Each funding represents TAB’s commitment in providing working capital financial solutions to small and medium-sized businesses across the United States.

The first transaction was closed with a printing and publishing company.  TAB has provided a $1.75 million line of credit based on accounts receivable with an inventory sub-limit of $250,000.  The company specializes in all areas of retail marketing, printing, and publishing.  The credit facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.

The second transaction was closed with a transportation company that hauls industrial supplies and materials for customers located in the Midwest and the Eastern United States.  TAB has provided a $1 million facility which will be used to support the ongoing working capital needs of the company as their business grows.

TAB Bank provides custom working capital solutions to commercial businesses from many industries.  These solutions are provided in all stages of business life cycles during any economic conditions.  TAB Bank does this through Accounts Receivable Financing, Lines of Credit, Equipment Finance, Asset Based Loans, Business Accounts, and Treasury Management Services.

C. Ray Hines is TAB Bank’s Vice President and Business Development Officer based in Cleveland.  Hines has over 32 years of experience in working with small to middle-market companies in need of creative working capital solutions. 

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