OGDEN, UT--(Marketwire - Jul 27, 2012) - TAB Bank is pleased to announce it has provided a $3 million credit facility to Dollar Only Wholesale, LLC of Scottsdale, AZ. The new facility is based on accounts receivable and inventory and is 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 2004, Dollar Only Wholesale is a distributor of various food and snack products under the brand name Global Brands. The company imports and distributes its products to dollar stores, drug stores, and grocery stores throughout the country and to some limited international customers. Current product offerings include candy, crackers, fruit snacks, cookies, frosting, honey and preserves, and drink mixes.
"The new financing we have obtained from TAB Bank is going to be a great benefit for our company. It will provide a stable, consistent, and cost-effective way of providing for the working capital needs of Dollar Only Wholesale. I am very pleased with the process of getting us up and running with TAB Bank. All of the necessary steps to complete this agreement have been done very smoothly. I fully anticipate our new relationship to continue to flourish as we move forward and work with TAB on a day-to-day basis," commented Richard Ennen, CEO Dollar Only Wholesale, LLC.