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Follow on Google News | ColorTyme Partners with Citibank to Provide Financing for Rent-to-Own FranchisorColorTyme provides franchise financing through Citibank.
By: Christine Saggese “Our partnership with Citibank has enabled us to put a program together whereby our franchisees can open new stores now and in the future,” said ColorTyme CEO and President Bob Bloom. “Particularly in today’s difficult environment, we’re fortunate to work with a bank that has remained committed to lending and helping small businesses grow,” he continued. Citibank’s finance commitment will allow qualified franchise candidates to obtain the financing they need to open their first store, help existing franchisees expand their business with new locations, and provide inventory financing for existing ColorTyme and RimTyme rent-to-own stores. “This relationship highlights Citibank’s ability to offer small and medium-sized businesses the resources and financing they need to expand,” said Kathleen Gibson, Head of Business & Commercial Banking for Citi’s Central Division. “Our Dallas Business & Commercial Banking Team looks forward to continuing to provide ColorTyme with the full range of expertise, banking solutions and services they may need today, and as they expand nationally and internationally in the future.” “Franchise financing is a huge benefit to owners, and it’s one of the many things that sets ColorTyme apart from other franchise companies,” said Jim Deering, ColorTyme’s director of franchise development. “The financial strength of our parent company, Rent-A-Center, Inc., has allowed ColorTyme to offer financing to our franchisees for more than a decade, and we are proud to continue that tradition.” About ColorTyme ColorTyme, Inc. (www.colortyme.com) About Citibank Citibank Business & Commercial Banking is part of Citi, the leading global financial services company, which has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com. Contacts: Christine Saggese ColorTyme, Inc. 972-403-4907 csaggese@colortyme.com Natalie Riper Citi Public Affairs (212)793-1401 natalie.riper@ Citi and Citibank are registered service marks of Citigroup Inc. End
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