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OGDEN, Utah, Aug. 07, 2019 (GLOBE NEWSWIRE) -- TAB Bank is pleased to announce it has provided a $10 million asset-based revolving credit facility for a drone manufacturing company located in California. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
The company manufactures and configures unmanned aerial vehicle aircraft, ground control stations, and launch systems.
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.
Brett Horwitz is TAB Bank’s Vice President and Business Development Officer based in Southern California. Brett has years of experience developing client relationships and structuring credit facilities in the asset-based lending arena. Brett can be reached at 949.466.5255 or at firstname.lastname@example.org.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/94ea5bf3-49af-4d09-be5b-a37f4605b796