Community Resources for Justice closes $1 million loan with RBS Citizens
Funding used to refinance debt, fund purchase of new facilities
BOSTON (June 25, 2013) – RBS Citizens has closed a $1 million term loan with Community Resources for Justice (CRJ), a leading social service agency based in Boston. Funding will be utilized to refinance an existing mortgage with RBS Citizens and to fund CRJ’s recent purchases of group homes in Marlborough and Fitchburg; remaining funds will be available for potential purchases of group homes in the future.
"We have been working with Community Resources for Justice for nearly 20 years and admire the programs and services it provides to individuals and communities across Massachusetts and throughout the region," said Jerry Sargent, President of RBS Citizens and Citizens Bank, Massachusetts. "We are pleased to extend this financing and to continue a great relationship with CRJ."
"RBS Citizens has been an important partner and trusted advisor for our organization for many years," said John Larivee, CEO of CRJ. "With the successful completion of this financing and the many financial services provided by RBS Citizens, we are positioned to provide our current and future clients with the support and tools they need to lead responsible, productive and dignified lives."
For more than 130 years, some of society’s most challenged citizens have benefitted from the programs and services provided by CRJ. The organization’s work is organized along three areas of practice:
- Social Justice Services which transitions ex offenders back into mainstream society and diverts at-risk youth away from crime and toward a productive and fulfilling life;
- Community Strategies which provides adults with intellectual disabilities a chance to grow and flourish in the community by offering residence in small group home settings;
- The Crime and Justice Institute which provides research and consulting services which advance evidence-based practices that inform systems-level change. Around the nation, CRJ is making neighborhoods safer and improving the quality of life for all through strong public policy development and legislation.
About RBS Citizens Financial Group, Inc.
RBS Citizens Financial Group, Inc. is a $129 billion commercial bank holding company. It is headquartered in Providence, R.I., and through its subsidiaries has more than 1,400 branches, approximately 3,700 ATMs and approximately 18,940 colleagues. Its two bank subsidiaries are RBS Citizens, N.A., and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont; and the Charter One brand in Illinois, Michigan and Ohio. RBSCFG has non-branch retail and commercial offices in more than 30 states. RBSCFG is owned by RBS (the Royal Bank of Scotland Group plc). RBSCFG’s websites are citizensbank.com and charterone.com.