TAB Bank closed a $15 million asset-based lending facility for Gehr Industries. The new financing will help Gehr maintain its position as a provider of electrical wire and cable, industrial supplies and related products throughout the United States and Canada.
“TAB Bank set themselves apart from the field of prospective lenders with their commitment to helping our mature, yet entrepreneurial, business finance exciting new growth expectations. A deep and supportive team, led by Traci Crabtree, showed a depth of experience and strategic thinking that we are very eager to leverage,” Max Paetzold, chief financial officer at Gehr Industries, said.
“The longstanding tenure of Gehr Industries’ senior leadership team proved invaluable as we stepped through the approval process. Their deep knowledge of the business gained through years of successful navigation was remarkable. We are thrilled to have the opportunity to partner with the company to ensure it has the growth capital it needs to further expand upon the legacy it has built,” Traci Crabtree, vice president of business development at TAB Bank, said.
