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BankBoston Dealer Finance Provides $5M in Financing to Harte Toyota

20 April 1999

BankBoston Dealer Finance Provides $5 Million in Financing to Harte Toyota, Inc.

    BOSTON--April 20, 1999--BankBoston Dealer Finance Inc. today announced that it has provided a $5 million credit facility to Harte Toyota, Inc.
    Headquartered in Dartmouth, MA, Harte Toyota is a retail dealership of Toyota automobiles. The funds will provide liquidity for general corporate expenditures and will support the company's future growth strategy.
    "The Harte management team has consistently and profitably demonstrated its commitment to excellent customer service," said Pamela Finegan, division executive, BankBoston Dealer Finance. "We are confident that this new financing will enable them to accomplish their objectives and we look forward to a long and successful relationship."
    "BankBoston Dealer Finance demonstrated extraordinary responsiveness in understanding our business and structuring this facility," said Glenn Harte, president of Harte Toyota. "This financing provides us the flexibility to execute our strategic initiatives and continue to position the company for growth. We are fortunate to have a resource like BankBoston in our backyard."
    Harte Toyota was founded in 1979 by sole stockholder Glenn Harte. In addition to new and used automobiles, the company maintains a fleet of 70 rental cars. The dealership recently won the 1998 J.D. Power and Associates' Certified Retailer Award.
    BankBoston , with assets of $73.5 billion and some 25,000 employees, is the nation's oldest commercial bank. BankBoston is engaged in consumer and business banking in New England; delivering sophisticated financial solutions to corporations and governments nationally and internationally; and full-service banking in leading Latin American markets.
    The Corporation's common stock is listed on the New York and Boston stock exchanges.