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Citizens Bank Provides $20MM Revolver to Luxury Jewelry Firm David Webb

January 25, 2017, 07:51 AM
Filed Under: Jewelry

Citizens Bank announced that Citizens Commercial Banking is providing a $20 million revolving credit facility to David Webb, LLC. Citizens is the sole lender and administrative agent.

Established in 1948, David Webb is a premier jewelry brand whose namesake founder / designer redefined luxury jewelry. The company has a highly selective distribution strategy that includes boutique locations in New York City and Beverly Hills, Calif., select luxury retailers and international trunk shows
A new Citizens client, David Webb will use the funds for new store growth, working capital and general corporate purposes.
“We have really benefited from our partnership with the team at Citizens,” said Mark Emanuel, co-owner and CEO of David Webb, LLC. “This is our first asset-based credit facility and they were able to bring great ideas to the table and execute the transaction quickly and seamlessly.”

“David Webb is a great new client 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 aims to be a go-to strategic and financial partner by offering unrivaled industry 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.

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