1847 Holdings’ Subsidiary Closes Revolving Credit Facility

7/22, 2:30 PM (Source: GlobeNewswire)

NEW YORK, July 22, 2020 (GLOBE NEWSWIRE) -- 1847 Holdings LLC (OTC: EFSH), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, announced today that its subsidiary Asien’s Appliance, Inc. has closed a secured $400 thousand revolving credit facility with Arvest Bank of Conway, AR. 1847 Holdings completed an acquisition of Asien’s Appliance in May 2020 and this revolving line will provide capital to fund key growth initiatives.

Bob Patterson, CEO of Asien’s Appliance comments, “This credit facility provides Asien’s Appliance with resources to move forward  aggressively with key strategic initiatives.” 

“I am very pleased with the execution by Bob and the team at Asien’s,” added Ellery W. Roberts, CEO of 1847 Holdings. “With a strong foundation to build on, I am confident they will continue to deliver in the months and quarters ahead.” 

About Asien’s Appliance, Inc.

Established 72 years ago and located in Santa Rosa, California, Asien’s Appliance is highly respected throughout the North Bay area of California. Asien’s Appliance offers a complete line of home and kitchen appliances to both residential and commercial customers from their showroom or online at asiensappliance.com.

About 1847 Holdings LLC

1847 Holdings LLC (OTC: EFSH) operates American companies it acquires at attractive valuations, leveraging its management team’s extensive experience gained at leading investment firms, such as Colony Capital, Lazard Freres and Saunders, Karp & Megrue, to grow operations and create value. 1847 Holdings seeks to generate returns for shareholders in the future through consistent, annual distributions of operating subsidiary income and capital appreciation resulting from the timely sale of operating subsidiaries.

Forward-Looking Statements

This press release may contain information about 1847 Holdings’ view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management’s beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in “Risk Factors” included in our SEC filings.

Contact:

Ellery W. Roberts, Founder & CEO
1847 Holdings LLC
Office: 212.417.9800
info@1847holdings.com

Dave Gentry, CEO
RedChip Companies
Office: 1.800.RED.CHIP (733.2447)
Cell: 407.491.4498
dave@redchip.com

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