When a Leominster plastics manufacturing company decided to expand its warehousing capacity it turned to Bay Colony for Section 504 financing once again. The acquisition of a 72,000 square foot building, in an adjoining community, will provide the company with access to a rail siding, thus reducing the cost of raw materials transport. Nearly twenty-three years ago, Bay Colony helped finance the firm’s initial building purchase (1988). In 1990, an expansion of that facility was financed with Bay Colony’s participation. This third project is representative of both the great success of the company and its commitment to using Bay Colony and the 504 program. The first mortgage loan on this latest project was provided by Rollstone Bank (Nabil Farooq, SrVP).
