Salem Five Bank’s business credit team has closed a $10 million credit facility for Concord Building & Design, an 80-year-old, employee-owned lumber and building materials company based in Littleton, Massachusetts.
The financing package consists of a revolving line of credit and commercial real estate financing. This capital gives Concord the liquidity and operational flexibility to manage inventory, strengthen customer relationships and fund long-term growth initiatives.
The partnership developed over several years, led by Salem Five executive vice president, Paul Kelly, and senior vice president, Keith Broyles.
“Salem Five showed a genuine commitment to understanding our business from day one,” David Perry, chief financial officer of Concord Building & Design Center, said. “The team took the time to know our operations and built a competitive proposal that solves both our immediate and long-term needs. Their responsiveness and willingness to listen made them the clear choice.”
This new credit facility ensures Concord remains competitive. The funding supports new and ongoing operational efficiencies and scales their ability to serve customers across the region.
“We are proud to partner with Concord Building & Design, a company with a rich and respected history serving builders, contractors and homeowners throughout Massachusetts,” Keith Broyles, senior vice president, team lead, business credit at Salem Five Bank, said. “Our business credit and treasury management teams collaborated closely with a goal to design a flexible financing structure that supports Concord’s strategic objectives while providing the flexibility needed in today’s market and positions the company for continued success and growth.”
