Pitney Bowes Bank signed a term loan and accompanying revolving line of credit with pharmaceutical ingredient wholesale distributor SST Corporation of New Jersey, providing consolidation of existing debt.
Founded in New York City in 1948, SST Corporation now occupies a facility in Fairfield, NJ, from which it manages the storage and control of active pharmaceutical ingredients.
“We felt pushed out by our primary lender. Their policies and procedures were becoming a barrier to the growth of our business,” Jerry Fasanella, director of finance and operations at SST Corporation, said. “The Pitney Bowes team was accessible, approachable and knowledgeable. They took time to understand our challenges and we appreciated being able to speak to someone from their senior leadership team. The customized material term loan gives us more options as an organization and greater confidence for our future.”
“We are extremely excited about our continued expansion into the small business lending market,” Christopher Johnson, senior vice president and president of Pitney Bowes Financial Services and board member of Pitney Bowes Bank, said. “We have a purpose-built product portfolio that is designed for the needs of the small business market. The support we’re providing to SST reflects the firm commitment of Pitney Bowes Financial Services to the success of our clients and the small business community, which is critical to our economy.”
Pitney Bowes is a global technology company that provides commerce solutions in the areas of e-commerce, shipping, mailing and financial services.
