Ocean Bank Provides $10mm Factoring Facility to Industry Leading Specialty Repair Company

MIAMI, FL – April 27, 2023 – Ocean Bank’s Factoring Division has financed a $10mm factoring facility to fund the expansion plans of a leading provider of offshore deep-water oil rig repairs. The client is well established in the market and has provided services to some of the world’s largest oil producers for more than 30 years. 

“Our client came to Ocean Bank looking for solutions. Ocean Bank was able to provide a facility that was structured according to their needs at a competitive price. That value add is what set us apart.” said Daniel Krasna, Vice President of Business Development.

“Ocean Bank’s Factoring Group excels at working with companies that are expanding and need extra flexibility that other lenders are not willing to cater to. Here we have the expertise” said Rogelio Villarreal, Executive Vice President, and Head of Commercial Lending at Ocean Bank. “Our newest client’s history and the strength of their customer base allowed us to finance them accordingly and we look forward to building and maintaining a strong long-term relationship.”

Ocean Bank’s Factoring Group works with businesses from start-ups to well-established middle-market companies to facilitate growth in financing their endeavors. To learn more, please reach out to Daniel Krasna, at (561)702-5774 or dkrasna@oceanbank.com.

About Ocean Bank

Ocean Bank is the largest independent, state-chartered commercial bank headquartered in Florida, with $5.9 billion in assets. Chartered in 1982, Ocean Bank operates its network of 22 branches throughout Miami-Dade and Broward counties. The community bank has received numerous awards and accolades from the Greater Miami Chamber of Commerce, The Beacon Council and the Florida Department of Education, among others, for its support of our South Florida communities. For more information, log on to www.oceanbank.com. Member FDIC.