TAB Bank extends US$3m factoring line to CNC Precision Machine

TAB Bank has structured a US$3m factoring line of credit for CNC Precision Machine Inc. to enhance the company’s cash flow for inventory management and working capital needs.

CNC Precision Machine, headquartered in Parkman, Ohio, is a well-established manufacturer of top-tier hydraulic fittings that serve the aerospace, transportation, and machinery industries. Since its founding in 2002, the company has operated from a 100,000-square-foot, state-of-the-art manufacturing facility. Within this space, its in-house experts support clients by addressing complex design challenges and offering customized solutions tailored to specific project requirements.

According to CFO Marc Karyo, the experience with TAB Bank stood out positively compared to previous similar financing arrangements. He noted that the underwriter, Natasha, was consistently available and ensured the process moved forward smoothly, even in situations where it might have otherwise stalled. The entire TAB Bank team appeared personally invested in CNC Precision Machine’s success and made the transition seamless. Karyo also appreciated the personalised service from their Relationship Manager, LilyAnn, highlighting the attentive support characteristic of a smaller bank.

TAB Bank specialises in crafting financial solutions tailored to small and mid-sized businesses across a range of industries, particularly manufacturing. Their services span asset-based lending, equipment financing, and working capital solutions. By aligning the right financial tools with business objectives, TAB Bank helps solve critical financial challenges and unlock access to operational capital and growth opportunities.

Justin Hatch, Chief Lending Officer at TAB Bank, emphasized that the partnership with CNC Precision Machine exemplifies the bank’s philosophy of investing in “Extraordinary People.” He expressed enthusiasm about supporting the company’s ambitions as it looks ahead to its 25th anniversary and future growth.

About TAB Bank
TAB Bank is committed to unlocking dreams through bold financial solutions that empower both individuals and businesses nationwide. With a focus on innovation, the bank continuously evolves its products to meet the dynamic needs of clients. For over 25 years, TAB Bank has provided personalised, technology-enabled financial services designed to enhance and simplify the banking experience.