Citizens issues $30M line of credit to Ross-Simons following acquisition

Nancy Lavin

12/23/2020

CRANSTON-BASED jewelry retailer Ross-Simons was recently provided a $30 million revolving line of credit by Citizens Financial Group. / COURTESY ROSS-SIMONS

PROVIDENCE – Citizens Financial Group Inc. on Tuesday announced a $30 million loan to Ross-Simons Inc. as part of an acquisition deal reached earlier this month. The $30 million, asset-based revolving line of credit will allow the Cranston-based jeweler to purchase new inventory and maintain day-to-day operations, Jim Speltz, Ross-Simons president and CEO, told Providence…

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