Daily News: August 2, 2012

TAB Bank Provides $1.5 Million Facility to Silipos

TAB Bank said it has provided a $1.5 million credit facility to mineral oil manufacturer Silipos. The new facility is based on accounts receivable and has been extended through a renewable term.

Clifton, NJ-based Silipos began operations in 1989 and is a manufacturer of mineral oil technologies that are the basis for products in the orthopedic, prosthetic, and skin care industries. The company currently manufactures over 200 proprietary products through three specific product lines under several private labels.