Citizens Commercial Banking is providing a new credit facility for SunCommon, Vermont’s largest provider of residential, community and commercial solar systems. The funds will fuel growth after SunCommon’s acquisition of Rhinebeck, N.Y.-based solar provider Hudson Solar.
“We really value Citizens Bank as a great banking partner for our growing business,” said Duane Peterson, co-founder of SunCommon, which has 110 employees.
“The Citizens team brought great commercial banking solutions and executed the transaction quickly and seamlessly,” added Jeff Irish, founder of Hudson Solar, which has 30 employees.
“Providing growth capital is just one of the ways that Citizens delivers substantial value for our clients at every stage of their business life cycle,” said Joe Carelli, president, Citizens Bank, Vermont and New Hampshire. “At Citizens, we think about the needs of our clients from their point of view and offer holistic solutions that deliver the combined strength of the entire bank.”
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $153.5 billion in assets as of March 31, 2018. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions.
— Solar Builder magazine