OGDEN, Utah, Aug. 03, 2021 (GLOBE NEWSWIRE) — TAB Bank is pleased to announce it has provided a chemical manufacturer in Texas with a $9 million asset-based credit facility comprised of a $6 million accounts receivable and inventory line plus a $2 million equipment loan with additional equipment funding available for future CapEx needs. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
The company develops and manufactures chemicals for the energy and industrial markets. Products include corrosion inhibitors, surfactants, biocides, and many others.
About TAB Bank
TAB Bank provides custom working capital solutions to commercial businesses across a wide range of industries. These solutions can be customized to meet the needs of companies in all stages of the business life cycle and during any economic conditions. TAB Bank does this through a variety of asset-based structures including Asset-Based Revolving Loans, Accounts Receivable Financing, Lines of Credit, and Equipment Finance. TAB’s lending options can also be combined with a full suite of business banking solutions and Treasury Management Services.
Chris Mitchell is TAB Bank’s Vice President and Business Development Officer based in Atlanta. He has over 25 years of experience developing client relationships and structuring credit facilities in the asset-based lending and factoring arena. He can be reached at 404.432.7657 or at chris.mitchell@tabbank.com.
