Mahwah based Swings & Things Inc.- northern New Jersey’s most prominent distributor/installer of upscale children’s swing sets and accessories- has expanded its presence in the tri-state area with the purchase of a 50,225 square foot facility on Route 17 in Mahwah.

Founded in 1987 by owners Michael and Jeffrey Kiess- the company has grown to be the largest Rainbow swing set dealer in the US. Swings & Things has 12 retail stores throughout the tri-state area as well as Utah, Idaho and Vermont. With this expanded centralized facility, the company will be able to support expansion into Connecticut and Rhode Island. Young families with children and homes flock to Swings & Things to acquire its products, considered best in the market. Products include children’s swingsets, basketball goals and other accessories. Rainbow swing sets are a big seller and Swings & Things has exclusive rights to sell these sets throughout its territory. The recent purchase has allowed the company to consolidate locations, become more efficient and expand the business. It is n the process of hiring an additional 23 employees.

Financing for the purchase/expansion was provided by Citibank with a 50% first lien loan. Greater New York Development Co. (GNYDC) provided a 40% second lien loan under the SBA 504 loan program at a low fixed rate (based on 10 year treasury) for 20 years. GNYDC is the newest SBA 504 company in NJ but is the longest established 504 company in the US.

Commented Douglas Asofsky, Sr. VP Citibank on the transaction- “without the 504 program we would not have been able to provide the attractive financing package needed by Swings & Things for its expansion. The combination of our conventional loan and the 504 loan from GNYDC has enabled Swings & Things to realize its dreams of facility ownership and poises the company to quadruple in size over the next few years. We are thrilled to have participated with GNYDC in this success story.”