TAB Bank Secures Financing to Boost Package Steel Systems Growth
TAB Bank's Strategic Financing for Package Steel Systems
Recently, TAB Bank has successfully closed a $5 million financing deal aimed at energizing growth for Package Steel Systems. This financing package includes a $3.5 million revolving line of credit and a $1.5 million term loan. The infusion of funds will support the company in accelerating its production and maintaining its reputation as a leader in the metal building industry.
The Legacy of Package Steel Systems
Founded by Leo J. Moroney in 1950, Package Steel Systems commenced its journey as a humble residential construction business in Shrewsbury, Massachusetts. Today, it has transformed into one of the region's largest and most diverse providers of industrial and commercial buildings. Their evolution represents over seventy years of growth and innovation, with a commitment to excellence in manufacturing.
Quality Control and Key Offerings
What truly sets Package Steel apart is its commitment to quality control. The company designs and fabricates its own materials, providing rigorous quality standards across its product line. They specialize in pre-engineered steel buildings that cater to a variety of sectors including commercial, industrial, and institutional industries.
These structures are not just buildings; they are designed to provide durability and adaptability to meet the unique needs of each client.
How TAB Bank Supports Business Growth
According to Bill Bahls, Vice President of Business Development at TAB Bank, their focus is on creating flexible financing solutions that add real value to clients' businesses. Whether through lines of credit, factoring, or term loans, TAB Bank emphasizes tailored options for companies in distinct industries. This partnership with Package Steel Systems exemplifies their commitment to fostering growth and innovation.
The Role of Miles Capital Partners
The financing deal was brokered by Miles Capital Partners, a firm recognized for delivering bespoke financial solutions to enterprises across the United States and Canada. With over three decades of industry experience, they continuously seek to provide specialized services that align with client needs.
TAB Bank's Comprehensive Financial Services
TAB Bank is dedicated to providing customized financial solutions suitable for small to mid-sized businesses. Their offerings extend beyond just financing, encompassing asset-based lending, equipment financing, and working capital solutions. This broad spectrum of services is designed to empower businesses to scale successfully and adapt to evolving market conditions.
About TAB Bank
TAB Bank is dedicated to unlocking dreams through innovative financial solutions that empower individuals and businesses. With a history of over 25 years, they have remained at the forefront of technology-enabled banking services, ensuring a simplified and enhanced banking experience for clients.
Their goal is to continuously evolve and provide comprehensive banking products that meet the dynamic needs of their customers.
Contact TAB Bank for More Information
If you're interested in knowing more about how TAB Bank can help you achieve your financial goals, feel free to reach out to them directly. Their commitment to client satisfaction is paramount.
Contact Information:
Trevor Morris
Director of Marketing
801-710-6318
trevor.morris@tabbank.com
Frequently Asked Questions
What is the financing amount provided by TAB Bank?
TAB Bank has closed a financing package worth $5 million for Package Steel Systems, including a revolving line of credit and a term loan.
Who founded Package Steel Systems?
Package Steel Systems was founded by Leo J. Moroney in 1950.
What type of buildings does Package Steel manufacture?
They specialize in pre-engineered steel buildings for various sectors including commercial and industrial.
Who brokered the financing deal?
The financing deal was brokered by Miles Capital Partners.
What services does TAB Bank provide?
TAB Bank offers a wide range of financial services, such as asset-based lending, equipment financing, and working capital solutions.
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