Stoli Group gets $42m loan

New York-based Stoli Group USA has been given a $42m asset-based credit loan by Citizens Commercial Banking.

Stoli Group is an importer, marketer and distributor of wines and spirits in the US and Citizens is the sole lender. 

“Citizens bankers are experienced, trusted advisors who bring great ideas to the table,” said Namita Malik, chief financial officer of Stoli.

“We highly value the advice and the results that the Citizens team delivers.”

“At Citizens, we try to think about the needs of our clients from their point of view and offer holistic solutions,” added Chapin Bates, head of metro NYC region for Citizens.

“Partnering with our Asset Based Lending product team, we were able to provide a great solution for Stoli Group that offered them a more flexible capital structure.

“Providing asset-based lending solutions is just one of the ways that Citizens delivers substantial value for our clients at every stage of their business life cycle.”