TAB Bank provided an $8.5 million asset-based credit facility to a California-based textile company. TAB Bank sourced the opportunity through an established broker/consultant relationship, as the company’s previous lender was unable to provide additional availability to meet the company’s increasing sales.
The company’s products include bath towels, pool towels, bed sheets, pillowcases, wash cloths, gym towels, bar mop towels and other related textiles. The company sells primarily to distributors, wholesalers and linen service providers.
