1847 Holdings’ Subsidiary Neese Inc. Reduces Debt Service and Lowers Borrowing Costs Through Term Loan Renewal

8/13, 2:00 PM (Source: GlobeNewswire)

NEW YORK, Aug. 13, 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, today announced that its subsidiary, Neese, Inc. (“Neese”), a Grand Junction, Iowa-based provider of products and services for the agricultural industry, successfully refinanced its capital leases with support from Home State Bank (“Home State”).

The renewal of Neese’s term loan with Home State provides funds to pay the capital leases and reduces the interest rate on its loan to 5.5 percent.

Ellery Roberts, founder and CEO of 1847 Holdings, stated, “With the support of Home State, we’ve reduced Neese’s financing costs and related contractual payments by nearly $450,000 per year.”

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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