Daily News: March 24, 2015

TAB Bank Closes Two Transactions Totaling $2.75MM

TAB Bank closed 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 U.S.

The first transaction was closed with a printing and publishing company. TAB has provided a $1.75 million credit line based on A/R with an inventory sublimit of $250,000. The company specializes in all areas of retail marketing, printing, and publishing. The 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.