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BHI C&I Group Provides $18.35 Million Financing for Allstate Sales Group
July 14, 2022
NEW YORK, July 14, 2022 – BHI, a full-service commercial bank, announced that its Consumer & Industrial Group has provided $18.35 million in financing for Allstate Sales Group (ASG), a provider of telecom and electric infrastructure engineering, design and construction services. The financing consists of a senior secured revolving credit facility, a term loan facility, mortgage financing for three properties and a purchase card line.
Founded in 2008 and based in Holmdel, New Jersey, ASG is a leader in the information communication technology industry, providing end-to-end solutions that include design and construction services. ASG has been experiencing exponential growth as the company works with its telecom customers to service and build the 5G market. The company has increased its employee base by 197% in the past five years.
“We sought to change banking relationships and the expert team at BHI worked closely with us as a highly supportive partner. They understood the objectives of our business, providing the financing that will be strategic to help propel our ongoing growth,” said Anthony Tepedino, owner of ASG.
“We welcome ASG as a valuable new client relationship for BHI. Our mission at the bank is to take a personal approach and tailor custom financial solutions specifically to meet our clients’ business goals. We look forward to a continuing productive partnership with ASG into the future,” said Barry Renow, BHI First Vice President, Relationship Manager.
About BHI (www.bhiusa.com)
BHI, the U.S division of Bank Hapoalim, Israel's leading financial institution, provides commercial banking solutions to middle market clients in sectors including: commercial real estate; general, domestic and Israeli C&I; private equity; food and beverage; apparel; healthcare; corporate banking; and high-tech. In addition to its New York headquarters, the bank operates U.S. Representative Offices in Woodcliff Lake, New Jersey; Miami, Florida; and Los Angeles, California.
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