TAB Bank provided a $1.25 million asset-based revolving credit facility to a manufacturing company based in Georgia.
The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
The company manufactures mattress and pillow covers and has experienced increased growth and demand from its hospitality industry customers. It needed a more flexible financing arrangement to accept increased orders.
The company expects to greatly increase sales and profitability with the new facility.