TAB Bank Enhances Growth with $11.5 Million Loan Commitment
TAB Bank's New Lending Opportunity for Prometco
TAB Bank has successfully finalized an $11.5 million asset-based lending facility specifically designed for Prometco Metals Corporation. This funding includes a $500 thousand term loan aimed at bolstering Prometco's growth within the competitive arena of stainless steel and aluminum coil products.
Prometco's Journey in the Metal Industry
Established in 1991, Prometco has a rich history of processing and distributing high-quality stainless steel and aluminum coil products. With founders possessing a collective 60 years of experience in the metals industry, Prometco is committed to delivering exceptional customer service alongside superior products. The company’s facility located in Naperville plays a pivotal role in supplying high-grade metal products throughout North America.
Finding the Right Financial Partnership
According to Jack Thompson, President of Prometco Metals Corporation, the collaboration with TAB Bank has proven to be fruitful right from the outset. Choosing the right financial partner was crucial, as Prometco explored multiple lending options. TAB Bank distinguished itself by demonstrating a genuine understanding of the unique challenges faced by a non-traditional metals business.
Flexible Solutions at TAB Bank
Throughout the financing process, TAB Bank showcased flexibility and a willingness to meet Prometco’s specific requirements. Their reasonable terms, readiness to provide consultations, and swift communication helped create a seamless experience for Prometco. This collaborative effort spanned various departments, including underwriting and account management, ensuring that Prometco felt supported every step of the way.
What TAB Bank Offers
TAB Bank specializes in offering customized financial solutions to small and mid-sized businesses across diverse sectors. Their array of services includes asset-based lending, equipment financing, and working capital solutions, all aimed at helping companies thrive in their respective industries.
About TAB Bank
At TAB Bank, the mission is straightforward: to unlock dreams through innovative financial solutions. They aim to empower businesses and individuals nationwide with their tailored banking products, developed to adapt to the ever-changing financial landscape. TAB Bank has dedicated over 27 years to providing technology-driven solutions to enhance the customer experience in banking.
Contact Information for TAB Bank
If you are interested in learning more about how TAB Bank can support your financial ambitions, you can reach out to Trevor Morris, the Director of Marketing, at 801-710-6318 or via email at trevor.morris@tabbank.com.
Frequently Asked Questions
What is the purpose of the $11.5 million loan from TAB Bank?
The loan is designated to support Prometco Metals Corporation's growth and strengthen its operational capabilities in the metal industry.
How long has Prometco been in business?
Prometco was founded in 1991, bringing over three decades of experience in the metal processing and distribution sector.
What types of products does Prometco specialize in?
Prometco focuses on processing and distributing stainless steel and aluminum coil products.
How does TAB Bank tailor its financial solutions?
TAB Bank customizes its financial products to meet the unique needs of small to mid-sized businesses, ensuring flexibility and responsiveness.
Who can I contact for more information about TAB Bank's services?
For inquiries about TAB Bank's offerings, you can contact Trevor Morris at 801-710-6318 or by email at trevor.morris@tabbank.com.
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