Key Takeaways
- TAB Bank closed a $5 million Lender Finance facility with a Nevada-based agricultural finance company.
- The financing will support factoring solutions for farmers, agribusinesses, and fresh produce exporters in Mexico.
- The partnership bridges cash flow gaps for small- to mid-size growers by advancing up to 96% of sales within 24 hours.
- The deal enables expansion and greater financial support for agricultural businesses globally.
- TAB Bank continues to offer customized financial solutions to help businesses grow.
Supporting Growth in Agriculture Finance
TAB Bank has announced the closure of a $5 million Lender Finance facility for a Nevada-based company specializing in factoring solutions for farmers, agricultural businesses, and fresh produce exporters. This funding aims to expand the company’s operations and increase its ability to support small- to mid-size growers globally.
With long payment cycles of 30 to 90 days, growers often struggle with liquidity challenges that impact their business growth. The financed company provides a tailored financial solution by advancing up to 96% of a grower’s sales within 24 hours, helping them maintain stability and focus on production.
“Small profit margins and complex international transactions create significant hurdles for growers looking to secure their receivables. Our new client and their financial solutions alleviate those pressures, allowing growers to focus on growing their businesses,” said Jerry Clinton, Managing Director of Corporate Underwriting at TAB Bank. “TAB Bank is happy to extend that same opportunity to this innovative company—providing the capital they need to scale their business and continue their mission of supporting the agricultural community worldwide.”
Bridging Cash Flow Gaps for Growers
The agriculture finance company, built by growers for growers, offers a critical funding solution for businesses operating within the agricultural supply chain. Their platform helps reduce financial risks, improve cash flow, and save time by ensuring that growers receive their funds promptly, rather than waiting for extended payment terms.
This funding will allow the company to:
- Expand its financial services to more growers and exporters.
- Provide faster and more flexible financing options for the agricultural sector.
- Strengthen its support for cross-border transactions and international trade.
