Needham, MA – May 29, 2014 – Firestone Financial Corp. a leader in equipment financing announced today two of its growth initiatives, a move to a new office location and an increased credit facility.
Firestone Financial has 49 employees and $188M of assets under management. The company recently relocated its headquarters to 117 Kendrick Street in Needham, Massachusetts. The new office space will allow Firestone Financial to double its size to accommodate the growth of the company.
Firestone Financial also signed a $225 Million, multi-year revolving credit facility at the end of last year; this is an increase from the prior facility of $125 Million. The bank group is led by RBS Citizens, N.A. and the lenders include Wells Fargo Bank National Association, Bank of America, N.A., People’s United Bank, Rockland Trust Company, TD Bank, N.A., Brookline Bank, Berkshire Bank and Webster Bank.
Jerry Sargent, President of Citizens Bank, Massachusetts applauded Firestone’s management team. “We’re proud of our partnership with Firestone and excited for the firm as it continues to grow. Like us, Firestone has an unwavering commitment to its clients. Its unique ability to assist its customers stems from its deep knowledge of the industries it serves. We look forward to the firm’s future growth and our continued partnership.”
Firestone Financial, President and CEO David Cohen said, “Over the past few years we have grown very rapidly and our new office and credit facility will provide us with the tools we need to accommodate our continued growth. We are extremely optimistic about the future of our business and the industries we serve.”
About Firestone Financial Corporation
Since 1965, Firestone Financial has helped businesses by provided equipment financing nationwide. Our focus is on cultivating long term relationships in the industries that we serve. Today we provide competitive financing solutions for the video gaming, amusement, vending, carnival, fitness, and commercial laundry industries. To learn more, call 1.800.851.1001 or visit www.firestonefinancial.com.