03/01/2016
Citizens Bank Provides $21.3 Million Credit Facility to Barney’s Convenience Mart
TOLEDO – Citizens Bank announced today that it has provided a $21.3 million credit facility to Barney’s Convenience Mart, Inc., an 18-site convenience store and retail fuel operator in Northwest Ohio.
The funds include a $17.8 million term loan for the acquisition of real estate, a $500,000 working capital line of credit and a $3 million development line for future remodeling/acquisitions.
"Citizens has great experience in this business and a very client-focused approach,” said Jim Sutphin, Operations Manager for Barney’s Convenience Mart, Inc. “The Citizens team brings good solutions and serves as an excellent partner.”
“The team at Barney’s Convenience Mart runs a solid business and we are happy to help them meet their strategic and financial goals,” said Michael R. Phelps, Managing Director and Group Head of Convenience and Retail Fuel Finance at Citizens.
For more information, go to Citizens Bank.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $138.2 billion in assets as of December 31, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle‐market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers “bank better” with mobile and online banking and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid‐Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not‐for‐profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.
Citizens operates through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
