By Rhonda Miller
PBN Staff Writer
NEWPORT – Rockland Trust provided a $20 million line of credit to Newport-based Embrace Home Loans, according to a press release from the bank.
“As Embrace grows and continues to help current and prospective homeowners here in Rhode Island and nationwide, they have proven to be an exceptional group of managers with a long, proven history of success,” said Jonathan C. Neuner, First Vice President of Commercial Lending at Rockland Trust.
“Rockland Trust is both pleased and proud of the way the relationship with Embrace has grown during the last five years.”
Embrace Home Loans, which has 14 offices nationwide with about 600 employees, originates 15,000 to 20,000 home loans annually.
“During the past 30 years, we at Embrace have been serviced by a wide variety of large and small commercial banks, but never enjoyed what I consider to be a true commercial banking relationship. Now, we have established such a relationship with Rockland Trust,” said Dennis Hardiman, owner of Embrace Home Loans.