Sterling National Bank, the principal subsidiary of Sterling Bancorp, announced that it has provided a credit facility totaling $4.6 million to McCollister’s Transportation, a privately held, full service moving and storage company, headquartered in Burlington, NJ.
With 16 locations across the U.S., McCollister’s owns and operates a service fleet of over 1,000 pieces of equipment to support their customers’ transportation and warehouse needs. Sterling, with its commitment to accommodating the borrowing needs of mid-sized businesses, further deepens its relationship with this longstanding client through the recent transaction.
“McCollister’s has been a valued client since 2012. We are very pleased to provide them with an additional line of credit, as well as extend the current loan maturation in order to accommodate their needs,” said Michael Haddad, President of Sterling National Bank’s ABL Division.