Citizens provides $50M in financing for Go Wireless

PROVIDENCE – Citizens Bank last week provided $50 million in financing to Go Wireless Inc.

Citizens, a subsidiary of Citizens Financial Group Inc., is the largest Rhode Island bank. It provided the asset-backed credit line, totaling $50 million, to Go Wireless. The authorized retailer of Verizon has stores across the United States.

Chris Carmosino, head of business capital at Citizens, lauded the deal in a statement.

“At Citizens, we try to think about the needs of our clients from their point of view and offer holistic solutions,” Carmosino said in a statement. “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.”

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In addition to smartphones, tablets, mobile internet and discounted TV, the retailer also sells device insurance and replacement along with home security.

Paul Huether, chief financial officer of Go Wireless, said the financing will help the company to enhance its business.