Cambridge Savings Bank Provides $9MM Revolving Line of Credit to Auto Advance
Cambridge Savings Bank provided a $9 million revolving line of credit to Auto Advance, an auto finance and loan company located in Wayland, MA.
Cambridge Savings Bank provided a $9 million revolving line of credit to Auto Advance, an auto finance and loan company located in Wayland, MA.
Cambridge Savings Bank’s asset-based lending team closed a financing package for Medical Record Associates, a provider of medical coding, auditing and cancer registry services.
Cambridge Savings Bank’s asset-based lending team added an additional $6.5 million to an existing credit facility for Purity Services. Cambridge Savings Bank originally committed $4.35 million to the facility and with the add-on funds, is now providing a package totaling $10.85MM.
Blue Hills Bank closed a new senior credit facility with Magnus Textile, a Chelmsford, MA-headquartered importer and distributor of specialized textile products.
When Blue Hills Bank, a 140-year old community bank, decided to start an ABL division, it offered veteran ABL lenders Keith Broyles and Yvonne Kizner the opportunity to build the new division from scratch. The pair jumped at the chance. They spoke with ABF Journal Editor Nadine Bonner and shared their optimism and excitement about this new venture.
Blue Hills Bank hired A. Keith Broyles and Yvonne Kitzner to lead its new Asset-Based Lending initiative. Broyles and Kitzner join from First Niagara Commercial Finance.