Salem Five Bank, a full-service financial services organization with over $8 billion in assets, has provided an asset-based revolving line of credit facility to a precision manufacturing company in Massachusetts. This financial package was designed to support sales growth and position the 50-plus year-old company for continued success.
This is another deal that the newly-formed business credit team has secured since its inception this summer. Michael Richardson, VP, Salem Five Business Credit, stated: “We are thrilled to announce this new relationship backing a homegrown manufacturer. This financing strengthens their ability to invest, expand, and compete in our community.”
Salem Five’s Commercial Banking division continues to expand to serve businesses of all sizes and industries, offering products, services and expertise across a variety of industries leveraging solution-based financial tools. From Deposit Products to Loans, Lines of Credit, Asset-based Lending, CRE Financing and Treasury Management services, Salem Five has what most businesses need to grow and succeed.
