The South Eastern Economic Development (SEED) Corporation has recently closed on an $888,000 SBA 504 Loan to Woodcraft Designers & Builders, LLC in Canton. The financing will allow the architectural millwork provider to purchase a 30,000 square foot building at 45 North Street and create six new jobs.
“We really enjoyed working with SEED throughout the loan process, which enabled us to purchase our new building,” stated Maciek Butkiewicz, co-owner of Woodcraft. “Lisa Holmes was wonderful to deal with and was willing to work after hours to accommodate our busy schedule.”
Maciek Butkiewicz and Lukasz Wasiak established Woodcraft Builders in 2012, bringing over 20 years of carpentry and management experience to the business. The company serves all of New England and provides a wide array of services including casework, mouldings, panels, historical reproductions, and stainless steel integration. Providing customized services to both commercial and residential clients, Woodcraft Builders has worked with homeowners, restaurants, health care facilities, laboratories, and retail stores.
The lending team for the project was Lisa Holmes from SEED and Daniel Donovan from Eastern Bank, which also participated in the financing. For more information, visit their website at www.woodcraftgroup.com.
Under the SBA 504 Program, SEED can provide up to 40 percent of the financing needed behind a bank for the purchase of buildings and equipment with a life of 10 years. SEED’s portion can range from $120,000 to $5 million for most small businesses, and $5.5 million for manufacturing businesses, at a fixed interest rate below market for 20 years, currently 4.69 percent.
SEED Corporation is a non-profit economic development organization certified in 1982 by the U.S. Small Business Administration. SEED is a Community Development Financial Institution (CDFI) under the U.S. Department of the Treasury and the SBA Micro Lender for the region. Under various programs, SEED makes loans from $1,000 up to $5.5 million to assist small businesses to grow and create jobs throughout the region.
For more information about the SBA 504 Program and other SEED loan programs, please call 508-822-1020 or visit SEED at www.seedcorp.com.
# # #