Spencer Savings Bank Inks $22 Million Loan Deal for Global Manufacturing Company
Elmwood Park, NJ, April 24, 2021 --(PR.com)-- Spencer Savings Bank recently closed on a $22 million loan for a global manufacturing company headquartered in New York City. The deal is the bank’s largest single transaction in history, signaling a continued appetite for growth and the desire for borrowers to work with a community bank.
“We were delighted to have the opportunity to provide a substantive financing for such a well- managed global company,” stated John Duncan, Executive Vice President and Chief Lending Officer. “We worked very closely with the company to structure a credit package which matched their long-term financing requirements.”
The borrower is a $300 million revenue company with international operations and employs 7,000 employees worldwide with principal operations in the United States. The loan was a mortgage securing a distribution facility.
“This transaction, right in the heart of the Meadowlands and in the shadow of MetLife Stadium, is the epitome of the customer focus, service and attention to detail that our lending clients have come to expect from Spencer Savings Bank,” stated Ryan Peene, Senior Vice President and Director of Market Growth.
About Spencer Savings Bank:
With over $3 billion in assets, Spencer has the capacity to fulfill everyone’s financing needs. The Commercial Lending team provides a multi-faceted array of superior lending products designed to serve both consumer and commercial entities. We help customers secure the loan that’s right for their business, with flexible financing solutions that enable business owners to source debt financing and working capital for projects of all types and sizes, as well as any other general business need. As a direct lender, our team is committed to guiding borrowers through all phases of their project from customization of their loan package to helping evaluate future growth opportunities once the project is complete. Our success has always been rooted in the boutique client experience we provide -flexible financing with quick turnaround, local decision-making with access to the top decision makers, truly understanding specialized customer need and building long-lasting, solid relationships.
For more information, contact:
Anita Guerrero (SSB): 201-703-3800 x 8421
VP, Corporate Communications Director
“We were delighted to have the opportunity to provide a substantive financing for such a well- managed global company,” stated John Duncan, Executive Vice President and Chief Lending Officer. “We worked very closely with the company to structure a credit package which matched their long-term financing requirements.”
The borrower is a $300 million revenue company with international operations and employs 7,000 employees worldwide with principal operations in the United States. The loan was a mortgage securing a distribution facility.
“This transaction, right in the heart of the Meadowlands and in the shadow of MetLife Stadium, is the epitome of the customer focus, service and attention to detail that our lending clients have come to expect from Spencer Savings Bank,” stated Ryan Peene, Senior Vice President and Director of Market Growth.
About Spencer Savings Bank:
With over $3 billion in assets, Spencer has the capacity to fulfill everyone’s financing needs. The Commercial Lending team provides a multi-faceted array of superior lending products designed to serve both consumer and commercial entities. We help customers secure the loan that’s right for their business, with flexible financing solutions that enable business owners to source debt financing and working capital for projects of all types and sizes, as well as any other general business need. As a direct lender, our team is committed to guiding borrowers through all phases of their project from customization of their loan package to helping evaluate future growth opportunities once the project is complete. Our success has always been rooted in the boutique client experience we provide -flexible financing with quick turnaround, local decision-making with access to the top decision makers, truly understanding specialized customer need and building long-lasting, solid relationships.
For more information, contact:
Anita Guerrero (SSB): 201-703-3800 x 8421
VP, Corporate Communications Director
Contact
Spencer Savings Bank
Anita Guerrero
201-703-3800 x. 8421
https://www.spencersavings.com/
Anita Guerrero
201-703-3800 x. 8421
https://www.spencersavings.com/
Contact
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