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Santander Bank Provides $10MM Revolver for Janel Group

March 13, 2018, 07:09 AM
Filed Under: Logistics

Santander Bank announces that its Asset Based Lending group has closed a $10 million senior secured revolving line of credit with Janel Group, Inc. to support its growing working capital needs. 

Janel Group provides full-service cargo transportation logistics management services, including freight forwarding, customs brokerage services, warehousing and distribution services worldwide. Janel currently has 11 branches in the U.S. and is headquartered in Lynbrook, NY. 

“As part of one of the largest banks in the world, we are able to leverage our international capabilities to help our customers grow their businesses worldwide,” said Michael Grande, Senior Vice President in Asset Based Lending at Santander Bank. “With our vast industry knowledge and service capabilities, we are able to provide clients like Janel with tailored financing options to meet their specific business needs locally and around the globe.”

Brendan Killackey, CEO of Janel added, “We are thrilled to have a financing partner who can grow with Janel Group. Our focus now is on using this partnership to pursue our long-term growth objectives.”

Janel works with a worldwide network of independent foreign agents to provide cargo transportation logistics management services to customers. In a given year, the Company handles over 50,000 individual import and export shipments around the globe.

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