OGDEN, Utah, Aug. 30, 2022 (GLOBE NEWSWIRE) -- TAB Bank is pleased to announce it has provided a wood products distribution company in Arkansas with a $5 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
The company is a custom millwork and wood products distribution company, specializing in hardwoods, hinges, slides, adhesives, and warehousing, primarily targeting the custom cabinet manufacturing industry.
TAB Bank was able to help the client exit a banking relationship with unusually stringent covenants, which were proving expensive and cumbersome. TAB Bank provided a larger credit facility, higher advance rates on A/R and inventory, and less restrictive covenants – at roughly the same cost.
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.
Ryan Gabriel is TAB Bank’s Vice President and Business Development Officer based in Seattle. He has over 20 years of experience in structuring asset-based facilities to meet client needs. He can be reached at 206.391.9886 or at ryan.gabriel@tabbank.com.
Contact Information:
Trevor Morris
Director of Marketing
801-624-5172
trevor.morris@tabbank.com
Twitter - @TABBank
Facebook – facebook.com/TABbank
