Banking Business News

TAB Bank Provides Textile Company in California with an $8.5 Million Asset-Based Credit Facility

TAB Bank Provides Textile Company in California with an $8.5 Million Asset-Based Credit Facility

TAB Bank is pleased to announce it has provided a textile company in California with an $8.5 million asset-based credit facility. TAB was introduced to the company through an established broker/consultant relationship because the company’s previous lender was not able to provide additional availability to meet the company’s rapidly 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. They sell primarily to distributors, wholesalers, and linen service providers.

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TAB Bank provides custom working capital solutions to commercial businesses across a wide range of industries. These solutions can be customized to meet the needs of companies in all stages of the business life cycle and during any economic conditions. TAB Bank does this through a variety of asset-based structures including Asset-Based Revolving Loans, Accounts Receivable Financing, Lines of Credit, and Equipment Finance. TAB’s lending options can also be combined with a full suite of business banking solutions and Treasury Management Services.

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Brett Horwitz is TAB Bank’s Managing Director and Head of Originations for the Western Region. Brett has years of experience developing client relationships and structuring credit facilities in the asset-based lending arena.

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