Citizens Bank announced that Citizens Commercial Banking is providing a $30 million credit facility to NEJ, Inc., a global leader in excess inventory solutions for retailers and specialty stores. Citizens is the sole administrative agent.
 
Beacon Falls, CT-based NEJ will use the new asset-based revolving line of credit for the acquisition of Bills Khakis and for general working capital purposes.
 
“We have really benefited from our partnership with the team at Citizens,” said Ed Mascolo, president and founder of NEJ, Inc. “They were able to bring great ideas to the table and execute the transaction quickly and seamlessly.”

“NEJ is a great new client for Citizens and we’re very happy to help them achieve their strategic and financial goals,” said Chris Carmosino, president of Business Capital at Citizens Bank. “Providing asset-based lending revolving credit facilities is just one of the ways that Citizens delivers value for clients at every stage of their business life cycle.”

Citizens is positioned as a strategic and financial partner, offering deep expertise, great ideas and seamless deal execution. The Citizens Commercial Banking approach puts clients first, and offers solutions that help clients make the best decisions throughout the life cycle of their business.