Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $4,000,000 to Web Plastics Company, LLC. (“Web” or the “Company”). The credit facilities will provide working capital to further expand and support the Company’s future projected growth.
Founded in 2009 and headquartered in Houston, TX, Web is a hybrid packaging solution provider to the flexible packaging industry. Utilizing a variety of plastic substrates, the Company markets and distributes their products throughout the world.
The transaction was originated by John Saraniti, a Managing Director located in one of Sterling’s New York, NY offices.