Ocean Bank Provides $10 Million Working Capital Facility
September 26, 2023
Source: Ocean Bank
MIAMI, Sept. 26, 2023 – Ocean Bank has closed on a $10 million working capital facility to a major flower importer that will provide the company with working capital during its low season and allow for its continued growth.
“We have seen this client grow over the years and are very pleased to be able to grant them this facility,” said Oscar Fernandez, Senior Vice President and Head of Factoring Sales of Ocean Bank.
"Our team quickly put together a creative, affordable and flexible structure that fully satisfied our client’s seasonal financial needs,” he said. “It will have ample collateral to liquidate the facility as it reaches its yearly peak season.”
Fernandez arranged the capital facility with Senior Vice President Ignacio Hernandez.
About Ocean Bank
Ocean Bank is the largest independent, state-chartered commercial bank headquartered in Florida, with $6.1 billion in assets. Chartered in 1982, Ocean Bank operates its network of 23 branches throughout Miami-Dade, Broward and Orange counties. The community bank has received numerous awards and accolated 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, visit www.OceanBank.com.
Contact: Wragg & Casas
Ray Casas (305) 372-1234
“We have seen this client grow over the years and are very pleased to be able to grant them this facility,” said Oscar Fernandez, Senior Vice President and Head of Factoring Sales of Ocean Bank.
"Our team quickly put together a creative, affordable and flexible structure that fully satisfied our client’s seasonal financial needs,” he said. “It will have ample collateral to liquidate the facility as it reaches its yearly peak season.”
Fernandez arranged the capital facility with Senior Vice President Ignacio Hernandez.
About Ocean Bank
Ocean Bank is the largest independent, state-chartered commercial bank headquartered in Florida, with $6.1 billion in assets. Chartered in 1982, Ocean Bank operates its network of 23 branches throughout Miami-Dade, Broward and Orange counties. The community bank has received numerous awards and accolated 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, visit www.OceanBank.com.
Contact: Wragg & Casas
Ray Casas (305) 372-1234
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