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TAB Bank Closes RecentTransactions Totaling $1.25 Million

June 02, 2015, 07:27 AM

TAB Bank announced the closing of two factoring facilities in California totaling $1.25 million.  Each funding represents TAB’s commitment in providing working capital financing solutions and ongoing support to small and medium-sized commercial businesses across the United States.

The first transaction was closed with a manufacturing and distribution company of household cleaning products.  TAB has provided a $750,000 line of credit based on accounts receivable with an inventory sub-limit of $250,000.  The new facility is extended through a multi-year agreement, will pay off the company’s previous lender, and will provide for their ongoing working capital needs.

The second transaction was closed with a manufacturing company of outdoor products.  Specifically, the company specializes in the design and production of utility and motorcycle trailers as well as trailer and lift accessories.  TAB has provided a $500 thousand line of credit based on accounts receivable with an inventory sub-limit of $150 thousand.

Brett Horwitz is TAB Bank’s Vice President and Business Development Officer based in Southern California.

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.

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