Citizens Bank provided a $214 million revolving line of credit for Nations Fund I, a wholly owned subsidiary of Nations Equipment Finance. Citizens acted as left lead bank and joint lead arranger on the transaction.

The funds will be used to support future growth.

Based in Norwalk, CT, Nations Equipment Finance (NEF) was founded in 2010 and specializes in providing equipment-secured leases and loans for small and medium-sized businesses primarily in the United States and Canada across several industry sectors, including transportation, manufacturing, construction and marine.

NEF is a wholly-owned portfolio company of Solar Capital, a specialty finance company that invests directly or indirectly in leveraged U.S. middle market companies primarily in the form of cash flow first lien senior secured debt instruments and asset-based loans, including senior secured loans collateralized on a first lien basis primarily by current assets.

“Citizens Commercial Banking has been our longtime financial and strategic partner,” said Susan O’Donovan, CFO of Nations Equipment Finance. “We appreciate their support of our business and how the entire Citizens team brings great ideas to the table and executes our transactions seamlessly.”

“Citizens works very hard to be our clients’ lead bank by providing great client service and solutions that deliver value for them at every stage of their business life cycle,” said Lisa Maass, president of Citizens Bank, Connecticut.