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Cambridge Savings Bank’s ABL Team Closes Deal with Worcester Envelope Company

November 19, 2019, 08:40 AM
Filed Under: Printing

Cambridge Savings Bank (CSB) announced the closing of a senior secured credit facility with Worcester Envelope Company, a print and mail solutions company headquartered in Auburn, Massachusetts.

The credit facility provided by CSB’s Asset-Based Lending Team allowed Worcester Envelope to refinance their existing bank debt and will support future working capital needs of the company.

“The Asset-Based Lending Team at Cambridge Savings Bank was able to deliver—everything went off smoothly and without a hitch,” said Derek Waterhouse, President of Worcester Envelope Company. “Keith and his team were very straightforward and easy to work with. We are extremely delighted that every detail they talked about and committed to— the bank delivered.”

“Worcester Envelope Company is a long standing, family owned business that we are thrilled to work with.  The management team and its employees are hardworking and continue to develop and adjust its business model to remain an industry leader,” said Keith Broyles, Senior Vice President and Head of Asset-Based Lending at Cambridge Savings Bank.  “We are pleased to provide a flexible financing package that will support the company’s future efforts well into the future.”

Cambridge Savings Bank’s commercial division offers a full suite of Corporate Banking and Lending, Commercial Real Estate Lending, Cash Management and Trade Services solutions that can be customized to meet your business needs.

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