A distributor of valves, pumps and process equipment based in Ohio has chosen TAB Bank for a USD $2.25 million revolving credit facility. The facility is an asset-based line of credit and also contains an inventory component. In addition to the credit facility, the company received USD $412,055.81 in equipment financing from TAB Bank.
The company is a leading distributor of valves, pumps, and process equipment servicing Ohio, Indiana, Kentucky, West Virginia, Georgia and Alabama. The company operates a 16,000 square foot facility at its headquarters in Ohio as well as a 5,000 square foot facility in Georgia to provide customers in the Southeast with local sales support, inventory and rotating equipment service.
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.