Apr
10
Webster Bank Closes on $7M Financing Deal
ByThe portfolio financing for a craft beer cooperative includes a partnership with the U.S. Small Business Administration in conjunction with their 504 Program.
Webster Bank has arranged a $7.2 million portfolio financing deal for Isle Brewers Guild LLC, a craft beer cooperative located in Pawtucket, R.I., founded by Devin Kelly and Jeremy Duffy. Senior Vice President of Commercial Banking at Webster Anthony Capuano Jr. led the transaction.
Webster Bank has provided $4 million of financing to the Rhode Island Industrial Facilities Corporation in combination with with a guarantee from the Rhode Island Industrial Recreational Building Authority by acquiring two bonds, one 25-year series and real estate for about $1.4 million, and a 15-year series of approximately $2.6 million for machinery and equipment to establish a brewing operation…
