Daily News: June 20, 2012

TAB Bank Provides $2 Million Facility to Fred Tebb & Sons

Fred Tebb & Sons, Inc. of Tacoma, WA has entered into a $2 million credit facility with TAB Bank. The new facility is based on accounts receivable and inventory and has been extended through a multi-year agreement.

Formed in 1965, Fred Tebb & Sons is a family-owned and operated business that remanufactures rough cut lumber into finished goods. Its products are sold throughout the United States and include wood siding, interior moldings, and dimension components that go into the manufacturing of pianos and guitars.

“TAB Bank has been great. The progression in setting up all the necessary steps for our new lending agreement was smooth and seamless. I am very much looking forward to the new relationship and what the future holds for Fred Tebb & Sons,” stated John Tebb, vice president of Fred Tebb & Sons, Inc.

TAB Bank provides custom working capital solutions to commercial businesses from many industries.