TAB Bank provided a $2 million asset-based credit facility to a geoscience company in Alaska. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
The company is an environmental testing, sampling and pre-remediation services company that specializes in soil sampling, groundwater sampling, membrane interface probing, gas chromatography, augur drilling, well monitoring and bioremediation services.
Prior to coming to TAB Bank, the company was using an factoring facility with a publicly traded lender that had recently been acquired by a larger New York-based bank, prompting the client to seek a new lending relationship.
