TAB Bank has extended a $12 million credit facility to support Steel Capital Management, a New York City-based finance company specializing in e-commerce solutions, as the company provides capital solutions to accelerate growth for direct-to-consumer (DTC) companies.
The facility will provide Steel Capital Management with the working capital to continue scaling its business and supporting its clients.
“TAB Bank is looking forward to helping Steel Capital Management continue driving growth and innovation in the e-commerce space by providing a flexible and scalable financing structure,” Jerry Clinton, managing director of corporate underwriting at TAB Bank, said. “Our ability to tailor loans to fit a company’s market and unique needs demonstrates our mission — unlocking dreams with bold financial solutions that lift and empower.”
“TAB Bank has been a pleasure to work with throughout the due diligence, documentation and closing process,” Michael Hoffman, co-CEO of Steel Capital Management, said. “The TAB Bank team’s willingness to fit our flexible financing needs demonstrated their commitment to building a long and successful partnership with Steel Capital. We’re confident we’ve found the right partner to continue Steel’s growth.”
