OGDEN, Utah, June 23, 2022 (GLOBE NEWSWIRE) — TAB Bank is pleased to announce the funding of a $5 million dollar Asset-Based credit facility to a leading provider of oilfield chemical formulations and field services.
This company delivers critical chemical formulations and fluids designed to meet the unique requirements of each site and improve the performance, longevity, and profitability of its client’s oil and gas assets.
The TAB Bank facility was used to refinance their existing lender and provide growth capital to capitalize on the opportunities they see in the market.
“TAB is excited to partner with this company and we look forward to supporting their working capital needs so they can continue to grow, expand, and reach their full potential. It became clear working with this management team that they are committed to being the very best at their craft and being a true partner to their clients. This is something we strive for at TAB and will do our best to emulate the example that they have set,” stated Brett Horwitz, Managing Director and Head of Originations for the Western Region for 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. In addition, TAB provides card and loan sponsorship programs through its strategic partnership product suite.
Brett Horwitz is TAB Bank’s Managing Director and Head of Originations for the Western Region based in Los Angeles. Brett has years of experience developing client relationships and structuring credit facilities in the asset-based lending arena. Brett can be reached at 949.466.5255 or at brett.horwitz@tabbank.com.
