Daily News: June 22, 2018

TAB Bank Provides $2.25MM ABL Facility to Chemicals Company

TAB Bank provided a $2.25 million asset-based revolving credit facility to a chemicals company located 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 operates as a specialty chemicals formulator and manufacturer of products for a variety of industries. It needed a new lending partner when its previous bank would no longer support or provide asset-based financing for small to medium-sized businesses. The company  sought out other lenders and ultimately chose TAB Bank due to its strength as a specialty asset-based lender and expertise in financing for small to medium-sized businesses.