OGDEN, UT--(Marketwire - Aug 16, 2012) - First Rate Staffing, Inc. of Santa Fe Springs, CA has chosen TAB Bank for a $2 million credit facility. The new facility is based on accounts receivable and has been extended through a multi-year agreement.
TAB Bank (@TABBank) provides custom working capital solutions to commercial businesses from many industries. These solutions are provided in all stages of business life cycles during any economic conditions. TAB Bank does this through Accounts Receivable Financing, Lines of Credit, Equipment Loans, Asset Based Loans, Business Accounts, and Commercial Banking Services.
Founded in 2010, First Rate Staffing is a privately owned company operating in California and Arizona. The company was founded by a group of individuals who wanted to provide a better solution in the staffing industry. They specialize in the placement of employees in the light industrial sector and packaging industries.
"We have experienced rapid growth since we were founded and began operations a few years ago. It has been exciting to be a part of. We fully anticipate this level of growth to continue as we move forward. Simply put, we had outgrown the credit facility our previous lender was providing us. They could no longer keep up with the expansion plans we were putting in place. We were also looking for a lender that could provide us with a lower cost of funds and who had more experience in the working capital financing industry. We soon realized that TAB Bank fit the description of the type of bank we were looking for. Their team was outstanding as we moved quickly to finalize our new lending relationship," commented Joy Mautz, Treasurer with First Rate Staffing.
TAB Bank is very excited to assist a quality company such as First Rate Staffing as they continue to grow their business and succeed in today's economic environment.