Daily News: March 13, 2018

Santander Closes $10MM Revolver for Janel Group

Santander Bank’s asset-based lending group closed a $10 million senior secured revolving line of credit with Janel Group. The credit will be used to support the company’s growing working capital needs.

“As part of one of the largest banks in the world, we are able to leverage our international capabilities to help our customers grow their businesses worldwide,” said Michael Grande, senior vice president in Asset Based Lending at Santander Bank. “With our vast industry knowledge and service capabilities, we are able to provide clients like Janel with tailored financing options to meet their specific business needs locally and around the globe.”

Brendan Killackey, CEO of Janel, added, “We are thrilled to have a financing partner who can grow with Janel Group. Our focus now is on using this partnership to pursue our long-term growth objectives.”

Janel Group provides full-service cargo transportation logistics management services, including freight forwarding, customs brokerage services, warehousing and distribution services worldwide. The company currently has 11 branches in the U.S. and is headquartered in Lynbrook, NY.