TAB Bank hands Cadillac Coffee a $3.5M factoring facility
What's the deal? Cadillac CoffeeDealroom has a profile for this one. Try Dealroom →, an Indiana-based coffee and tea company, has secured a $3.5 million factoring facility from TAB BankDealroom has a profile for this one. Try Dealroom →. The deal includes a $1.5 million inventory sublimit.
What's the endgame? The facility will provide funding, service, and support to help the company keep supplying its line of coffee and tea products. Factoring lets a business unlock cash tied up in unpaid invoices, easing working-capital pressure.
Why now? "Selecting the right financial partner means choosing one that truly understands the ins and outs of your business," said Aaron Brand, vice president of business development at TAB Bank. He pointed to the lender's "nearly three decades of experience supporting small to medium-sized commercial businesses."
Owner Rick Gehlert said the TAB team "stepped right up and got to know us and our story," calling the collaboration "the best possible funding solution for our company."
The signal: The deal sits at the smaller end of the specialty finance market, but it reflects steady demand for asset-based lending among mid-sized firms. Recent comparable facilities include a $25 million revolving credit line for Mr. CraneDealroom has a profile for this one. Try Dealroom → and a $10 million asset-based facility for a Florida flight training company — a sign that lenders continue to court businesses seeking flexible, collateral-backed capital.
Read more: abfjournal.com
Image credit: Kris Krug
