Cambridge Savings Bank (CSB) announced the closing of a $12,500,000 senior secured credit facility with New England and Northeast Linen Supply (NELS), a leading linen service and uniform rental company that provides a full suite of textile products to upscale restaurants and to corporate and educational institutions throughout the Northeast.
The senior secured credit facility provided by CSB allowed NELS to refinance their existing senior debt, lower borrowing costs, and support future working capital needs of the company. NELS, which includes North East Linen Supply Co., Inc. and New England Linen Supply Co., Inc., is a portfolio company of Newton-based New England Capital Partners.
