06/25/2018
Citizens Bank Provides New Financing for SunCommon
Funds used for growth after acquisition of New York-based Hudson Solar
MONTPELIER, VT – Citizens Bank announced today that Citizens Commercial Banking led a new credit facility for SunCommon, Vermont’s largest provider of residential, community and commercial solar systems. The funds will fuel growth after SunCommon’s acquisition of Rhinebeck, N.Y.-based solar provider Hudson Solar. Citizens is the sole lender.
“We really value Citizens Bank as a great banking partner for our growing business,” said Duane Peterson, co-founder of SunCommon, which has 110 employees.
“The Citizens team brought great commercial banking solutions and executed the transaction quickly and seamlessly,” added Jeff Irish, founder of Hudson Solar, which has 30 employees.
“Providing growth capital is just one of the ways that Citizens delivers substantial value for our clients at every stage of their business life cycle,” said Joe Carelli, president, Citizens Bank, Vermont and New Hampshire. “At Citizens, we think about the needs of our clients from their point of view and offer holistic solutions that deliver the combined strength of the entire bank.”
Citizens is a trusted strategic and financial adviser, consistently delivering clear and objective advice. The Citizens Commercial Banking approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.
For more information, please go to the Citizens Commercial Banking website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $153.5 billion in assets as of March 31, 2018. 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. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,150 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. 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 rate products, and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
