{"id":1004172192,"date":"2017-04-10T06:00:40","date_gmt":"2017-04-10T14:00:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004172192"},"modified":"2025-02-19T02:52:51","modified_gmt":"2025-02-19T10:52:51","slug":"webster-bank-closes-on-7m-financing-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/","title":{"rendered":"Webster Bank Closes on $7M Financing Deal"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004172194\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004172194\" data-attachment-id=\"1004172194\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/ibg-interior-x\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg\" data-orig-size=\"960,720\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Isle Brewers Guild Interior\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Isle Brewers Guild Interior&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg?w=960\" class=\"wp-image-1004172194 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg\" alt=\"Isle Brewers Guild Under Construction\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg 960w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004172194\" class=\"wp-caption-text\">Isle Brewers Guild Under Construction<\/p><\/div>\n<p>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.\u00a0Senior Vice President of Commercial Banking at Webster Anthony Capuano Jr. led the transaction.<\/p>\n<p>Webster Bank has provided $4 million of financing to the Rhode Island Industrial Facilities Corporation in combination 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.<\/p>\n<p>Webster Bank also partnered with the U.S. Small Business Administration, by accessing their <a href=\"https:\/\/www.commercialsearch.com\/news\/finance-column-a-new-avenue-for-sba-504-lending\/\">504 Program<\/a>, to provide an additional $3.1 million loan. The deal consists of $2.8 million in\u00a0bridge financing, which will be consequently taken out by a 20-year fixed rate U.S. Government debenture, and a $0.35 million working capital line of credit complemented by an SBA Express Guarantee.<\/p>\n<p><em>\u201cWe are looking forward to continuing to partner with home-grown, emerging, entrepreneurial business, like the Guild, in support of the expansion of local initiatives, by helping to empower them with products and services that will help their businesses grow and prosper,\u201d<\/em> said Capuano.<\/p>\n<p>Isle Brewers Guild officially opened in March, celebrating the completion of the two-year project alongside Governor Gina Raimondo, Senator Jack Reed and Pawtucket Mayor Donald Grebien.\u00a0The cooperative was created\u00a0to deliver additional capacity, efficiency and control to its brewing partners.<\/p>\n<p><em>Image courtesy of Turgeon Construction via Isle Brewers Guild&#8217;s Facebook Page<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The portfolio financing for a craft beer cooperative includes a partnership with the U.S. Small Business Administration in conjunction with their 504 Program.<\/p>\n","protected":false},"author":240,"featured_media":1004172194,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21748,21742,10],"tags":[32984,34886],"class_list":["post-1004172192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-industrial","category-latest","category-northeast","tag-sba-504","tag-webster-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Webster Bank Closes on $7M Financing Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Webster Bank Closes on $7M Financing Deal\" \/>\n<meta property=\"og:description\" content=\"The portfolio financing for a craft beer cooperative includes a partnership with the U.S. Small Business Administration in conjunction with their 504 Program.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-10T14:00:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-19T10:52:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timea-Erika Papp\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/\"},\"author\":{\"name\":\"Timea-Erika Papp\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f58a713dcbdcb5aab2648af2aa04d6ae\"},\"headline\":\"Webster Bank Closes on $7M Financing Deal\",\"datePublished\":\"2017-04-10T14:00:40+00:00\",\"dateModified\":\"2025-02-19T10:52:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/\"},\"wordCount\":276,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/IBG-interior-x.jpg\",\"keywords\":[\"SBA 504\",\"Webster Bank\"],\"articleSection\":[\"Deals\",\"Finance\",\"Industrial\",\"News\",\"Northeast\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/\",\"name\":\"Webster Bank Closes on $7M Financing Deal - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/IBG-interior-x.jpg\",\"datePublished\":\"2017-04-10T14:00:40+00:00\",\"dateModified\":\"2025-02-19T10:52:51+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f58a713dcbdcb5aab2648af2aa04d6ae\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/IBG-interior-x.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/IBG-interior-x.jpg\",\"width\":960,\"height\":720,\"caption\":\"Isle Brewers Guild Interior\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/webster-bank-closes-on-7m-financing-deal\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Webster Bank Closes on $7M Financing Deal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f58a713dcbdcb5aab2648af2aa04d6ae\",\"name\":\"Timea-Erika Papp\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"caption\":\"Timea-Erika Papp\"},\"description\":\"Timea is a senior writer covering CRE marketing, tech and real estate trends, as well as industry news in the U.S. Timea was previously a senior associate editor at Multi-Housing News and Commercial Property Executive and has an academic background in law. She has been working in the real estate industry since 2011.\",\"sameAs\":[\"timea-erika.papp@cpe-mhn.com\"],\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/timeaerikapapp\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Webster Bank Closes on $7M Financing Deal - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/","og_locale":"en_US","og_type":"article","og_title":"Webster Bank Closes on $7M Financing Deal","og_description":"The portfolio financing for a craft beer cooperative includes a partnership with the U.S. Small Business Administration in conjunction with their 504 Program.","og_url":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-04-10T14:00:40+00:00","article_modified_time":"2025-02-19T10:52:51+00:00","og_image":[{"width":960,"height":720,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg","type":"image\/jpeg"}],"author":"Timea-Erika Papp","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/"},"author":{"name":"Timea-Erika Papp","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae"},"headline":"Webster Bank Closes on $7M Financing Deal","datePublished":"2017-04-10T14:00:40+00:00","dateModified":"2025-02-19T10:52:51+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/"},"wordCount":276,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg","keywords":["SBA 504","Webster Bank"],"articleSection":["Deals","Finance","Industrial","News","Northeast"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/","url":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/","name":"Webster Bank Closes on $7M Financing Deal - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg","datePublished":"2017-04-10T14:00:40+00:00","dateModified":"2025-02-19T10:52:51+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg","width":960,"height":720,"caption":"Isle Brewers Guild Interior"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/webster-bank-closes-on-7m-financing-deal\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Webster Bank Closes on $7M Financing Deal"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae","name":"Timea-Erika Papp","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g","caption":"Timea-Erika Papp"},"description":"Timea is a senior writer covering CRE marketing, tech and real estate trends, as well as industry news in the U.S. Timea was previously a senior associate editor at Multi-Housing News and Commercial Property Executive and has an academic background in law. She has been working in the real estate industry since 2011.","sameAs":["timea-erika.papp@cpe-mhn.com"],"url":"https:\/\/www.commercialsearch.com\/news\/author\/timeaerikapapp\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/IBG-interior-x.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004172192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/240"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004172192"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004172192\/revisions"}],"predecessor-version":[{"id":1004619625,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004172192\/revisions\/1004619625"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004172194"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004172192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004172192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004172192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}