CHERRY HILL, N.J., Sept. 17, 2019 /PRNewswire/ -- TD Bank,
America's Most Convenient Bank®, announced it acted as
sole lead arranger on the funding of a $20
million revolving line of credit for Betteridge Jewelers
Group. The company will use the proceeds to refinance an existing
revolver and for additional growth capital.
"Betteridge is a 120-year-old family owned business and has a
long history of offering highly sought-after watches and jewelry,
and we are honored to be a part of their story as their new bank,"
said Joseph Nemia, Head of
Asset-Based Lending, TD Bank. "TD Bank's asset-based lending
business supports clients through all phases of the business cycle,
and we will continue to support Betteridge as they grow."
Betteridge offers high-end jewelry, branded and pre-owned
watches, silver and estate jewelry. The Company operates four
luxury retail jewelry stores with a flagship store in Greenwich, Connecticut and e-commerce through
https://www.betteridge.com/. TD Bank's financing enables Betteridge
to implement a business strategy with new technology, purchase
additional inventory and revamp the design of existing retail
locations.
"TD Bank provided us with strategic growth capital," said
Terry Betteridge, CEO of Betteridge
Jewelers Group. "Having a financial institution with retail
expertise, who deeply understands our business, capital needs, and
convenient store locations, will be instrumental as we execute our
growth and expansion plan going forward."
About TD Bank, America's Most Convenient
Bank®
TD Bank, America's Most Convenient Bank, is one of the 10
largest banks in the U.S., providing more than 9 million customers
with a full range of retail, small business and commercial banking
products and services at more than 1,200 convenient locations
throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas
and Florida. In addition, TD Bank
and its subsidiaries offer customized private banking and wealth
management services through TD Wealth®, and vehicle
financing and dealer commercial services through TD Auto Finance.
TD Bank is headquartered in Cherry Hill,
N.J. To learn more, visit www.td.com/us. Find TD Bank
on Facebook at www.facebook.com/TDBank and on Twitter at
www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank
Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services
company in North America. The
Toronto-Dominion Bank trades on the New
York and Toronto stock
exchanges under the ticker symbol "TD". To learn more, visit
www.td.com/us.
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SOURCE TD Bank