FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Cambridge Savings Bank’s ABL Team Closes $4.35MM Deal with Purity Linen Services

July 23, 2020, 09:05 AM
Filed Under: Healthcare

Cambridge Savings Bank (CSB) announced the closing of a $4,350,000 senior secured credit facility with Purity Linen Services, Inc., a full-service linen commercial laundry company serving the healthcare industry based in New Bedford, Massachusetts.

The credit facilities provided by CSB’s Asset-Based Lending Team allows Purity Linen Services to refinance their existing senior debt, use for working capital, and to purchase new assets to support ongoing business growth.

“CSB’s ABL team hit the mark on this one,” said Daniel Deneault, President of Purity Linen Services. “Not only did Keith Broyles (Head of Asset-Based Lending, Cambridge Savings Bank) recognize our growth trajectory, but his team has also shown how they are a partner that understands the unique needs of this business. They are true to their word on being able to provide the capital we need to continue to improve our presence in the New England Healthcare Linen Marketplace.”

“We are excited to deepen our relationship with Purity Linen and support their continued success,” said Yvonne Kizner, Senior Vice President, Cambridge Savings Bank. “Purity is a third generation family-owned business and has built a thriving operation by focusing on their customers and tailoring solutions to their needs. Together we worked to customize and develop an innovative structure that fit Purity’s needs and ensure Purity is well-positioned to take advantage of future growth opportunities.”

Cambridge Savings Bank’s commercial division offers a full suite of Corporate Banking and Lending, Commercial Real Estate Lending, Cash Management and Trade Services solutions that can be customized to meet your business needs.

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.