TAB Bank closed a $2.5 million asset-based lending facility, which includes a $1.5 million inventory subline for Precision Assembly Inc. The capital provided from this credit facility will create opportunities for Precision Assembly to accelerate growth, while advancing their goals of providing quality parts and components for their customers.

Based in Utah, Precision Assembly is a contract electronics manufacturing services provider specializing in printed circuit board assembly and related engineering support through design, layout, prototyping, and surface-mount assembly for their customers in the medical, dental, education, transportation, law enforcement, industrial, mining and farming industries.

“TAB Bank was wonderful to work with. They were very attentive to our financing needs and provided great solutions for this credit facility. They are very friendly and I would recommend them as a trusted banking partner,” stated Mauro Carlini, CFO of Precision Assembly.

TAB Bank offers customized financial solutions for small to mid-sized businesses across various industries. Services include asset-based lending, equipment financing and working capital solutions tailored to help companies scale and thrive.