Ares Commercial Finance announced that it has extended $30 million of credit to Sears Authorized Hometown Stores, LLC.
The credit facility consists of a working capital revolver and is a participation in a larger global commitment of $250 million.
Proceeds will be used to amend and extend the company’s existing credit facility. The company is a retailer that sells home appliances, lawn and garden equipment, apparel, mattresses, sporting goods and tools. Ares Commercial Finance acted as Co-Documentation Agent in the transaction.