Commercial Client Success Stories
Our Commercial Lending team uses decades of combined experience to build long-lasting client relationships by providing custom and competitive loan products that help businesses prosper.
Wicked Bagel
Wicked Bagel owner Maria Mahoney opened her first location in Lexington in 2017 with the intention of bringing her love of artisan, New York-style bagels to Greater Boston.
After several years providing her clients with fresh baked bagels and an expanded breakfast and lunch menu, Maria worked with Leader Bank’s Commercial Lending team to secure a Small Business Administration (SBA) loan to help with the build out of the second Wicked Bagel location in Woburn in 2021.
As demand kept growing, Wicked Bagel continued their expansion in 2023 with plans for a third location in Watertown and once again worked with Leader Bank’s Commercial Lending team to secure two loans totaling $550,000, including another SBA loan, to help finance construction of the new location.
When the build out of the new Wicked Bagel Watertown location took longer than anticipated, Leader Bank’s Commercial Lending team worked with Maria to increase the existing loan amount on the project to help finance the remaining construction. Work on Wicked Bagel’s Watertown storefront is nearly complete with an official opening expected in May 2024.
"I am so appreciative of the team at Leader Bank and their dedication to helping us find the right solutions to support Wicked Bagel’s expansion. Their flexibility and continued support as our needs evolved throughout the construction of our new location has been invaluable."
The Croft School
The Croft School operates small, reasonably priced, high-quality private schools designed as an alternative to both public schools and traditional private schools. The Croft School Founder and Executive Director Scott Given aims for his schools to deliver a balanced and rigorous student experience alongside a unique level of parent service.
Serving approximately 450 students across three locations in Boston and Rhode Island, the team at The Croft School has seen extraordinary demand since opening their first location in 2018 with long admissions waitlists and as such are planning to expand their student body.
Each Croft School location opened in a leased building, with all three needing to be converted from non-school facilities into educational learning spaces which required a significant amount of working capital.
Leader Bank’s Commercial Lending team worked to help The Croft School secure a $2.2 million Small Business Administration (SBA) loan and additional $300,000 term loan to help with the build out, renovations, and improvements of all three locations to ensure they were delivering the best possible experience for their students.
"Leader Bank quickly recognized the power and potential of the niche that The Croft School model is filling. The Bank’s provision of debt capital and strong partnership has enabled our organization to efficiently create the bright and modern school spaces that our students, families, and teachers expect and appreciate."
The Throne Depot
Since 2005, The Throne Depot co-owners Steve Brodeur and Michael Cormier have provided New England with portable restroom rentals and sanitation solutions for events and construction projects. As a family-owned and operated company, The Throne Depot prioritizes excellent service and high-quality solutions to meet their clients’ needs.
A Leader Bank client since 2013, the team at The Throne Depot has appreciated having a lending partner that shares those values as their business has grown over the last decade.
Leader Bank’s Commercial Lending team has helped The Throne Depot secure Small Business Administration (SBA) loans to finance new equipment purchases, as well as with the acquisition of a new warehouse in Billerica that was financed by an SBA 504 loan.
Most recently, The Throne Depot worked with Leader Bank’s Commercial Lending team to secure a $300,000 line of credit to provide working capital and help fund equipment needs. As their business has continued to grow, the Commercial Lending team helped The Throne Depot increase this line of credit to $600,000.
"Leader Bank has been an incredibly supportive partner for our business for more than a decade. Their team has worked tirelessly to help ensure our business will continue to thrive for years to come."
Nashoba Valley Ski Area
Nashoba Valley Ski Area has been a Massachusetts institution for nearly six decades, from its opening in 1964 with rope tows servicing four slopes to its current operation as a full-service ski area consisting of 70 acres of skiable terrain over 27 trails.
The resort has continually expanded its offerings over the years to become a year-round recreational facility with the addition of New England’s largest snowtubing facility, The Outlook restaurant, the Sunset Tiki Bar and Grill, the Witch’s Woods Halloween attraction, and more.
As President and Owner of one of the Boston-area’s most beloved destinations, Alan Fletcher needed a bank that could help him continue to offer new and exciting experiences to visitors.
Leader Bank’s Commercial Lending team worked to help Alan refinance the resort and provide a line of credit to help with operational needs as well as with the purchase of new equipment. With this assistance, Nashoba Valley Ski Area looks to continue to add attractions in the years to come, including an expansion of the snowtubing park already underway
"It has been a true pleasure working with Leader Bank. Their team worked tirelessly to provide lending solutions that will help our business continue to thrive."
MEM Tea Imports
In 1999, it was rare to find high-quality loose tea available at your local café or restaurant in the United States. The team at MEM Tea Imports stepped in to help fill this void and provide tea drinkers with products that focused on integrity of flavor, purity, and efficacy by sourcing, importing, and distributing tea to the food service and hospitality industries as well as conducting thousands of tastings and trainings for cafés, restaurants, hotels, and emerging tea companies.
MEM Tea Imports Owner Gilbert Tsang and his team previously rented two 5,000 square foot facilities where they paid substantial rent. Having two locations created operational and staffing issues, and the team at MEM Tea Imports had always wanted to purchase their own headquarters.
Leader Bank’s Commercial Lending team worked to help MEM Tea Imports purchase a $3.5 million commercial building in Wakefield through the Small Business Administration’s 504 program which allowed the Bank to finance up to 90% for the business.
MEM Tea Import’s new facility is 16,000 square feet which helped the business consolidate their previous two locations into one, improve operational and staffing efficiency, and provide much needed space for future expansion. Now, instead of paying rent, the team at MEM Tea Imports is building equity to support future growth.
"Leader Bank helped our business realize a long-held goal of owning our own headquarters and set us up to continue to grow our business in the long run."
Salem Waterfront Hotel and Pickering Wharf Complex
The Salem Waterfront Hotel and Suites and Pickering Wharf Complex are staples of historic Salem, Massachusetts, providing lodging and entertainment for both residents of the North Shore as well as the influx of visitors the City receives throughout the year.
Between the upscale accommodations offered at the Salem Waterfront Hotel and Suites and the restaurants, small businesses, and apartments located on the Pickering Wharf Complex, the two properties are integral to the thriving Salem community.
Salem Waterfront Hotel and Suites and Pickering Wharf Complex Owners Michael Rockett and Richard Rockett recently worked with Leader Bank’s Commercial Lending team to refinance existing loans on the properties.
The Commercial Lending team took the time to understand what lending solutions would best help the clients’ businesses thrive, and were able to refinance a $16.1 million loan for the 86-room Salem Waterfront Hotel and Suites and a $7.25 million loan for the Pickering Wharf Complex which includes 19 residential units, 30 retail units, and three office tenants.
“We are grateful for Leader Bank’s dedication and attention to detail when it came to understanding the needs of our businesses.”
Despensa Familiar
Lilian Rojas founded Despensa Familiar as a family business with her husband Walter more than two decades ago as a grocery wholesaler and distributor when she couldn’t get deliveries to her small grocery store in Waltham on time. Since then, Despensa Familiar has grown into one of the primary wholesale distributors of Latin American grocery products in the region.
Lilian and Walter still run Despensa Familiar as a family business with their son Walter Jr. and daughter Monica. As demand has increased for international products in recent years, Lilian recognized the opportunity this presented for her business.
Leader Bank was able to work with Lilian to refinance a $2 million commercial mortgage for Despensa Familiar’s warehouse and retail grocery locations in Waltham. The Bank’s Commercial Lending team also helped to provide Despensa Familiar with a $300,000 working capital line of credit for use in purchasing product for the business. By working with Leader Bank, Despensa Familiar is poised to meet the growing demand for their products and services for years to come.
"We are grateful for Leader Bank’s attention to detail and tireless efforts in taking the time to understand the needs of our family’s business."
80 Elm Partners
Rob Wolff has been in the commercial real estate business for more than three decades, working in the development, management, and ownership of properties.
He has extensive experience in ownership of multi-family, office, mixed-use, industrial, and storage properties. His latest property, which houses his business 80 Elm Partners, is a brand-new selfstorage facility located in the up-and-coming Arsenal Yards area of Watertown. The four-story building has more than 43,000 square feet of rentable space including 400 climate-controlled units and two commercial rental spaces.
80 Elm worked with Leader Bank to finance a $10.3 million loan on the recently constructed self-storage property. As the self-storage industry is on the rise again with rent prices and sales returning to pre-pandemic levels, Leader Bank was able to step in and help 80 Elm Partners set their new business up for success in an area that was previously underserved by the self-storage industry. At the time of closing, the construction of the facility had just been completed. The property is now fully occupied and operational in the vibrant and bustling Arsenal Yards.
"The team at Leader Bank worked to understand what our needs were at the time and find the best option for us as we were just getting our facility up and running."
Mighty Squirrel
Mighty Squirrel is a craft brewery located in Waltham. The brewery started in 2015, selling their product in stores, bars, and restaurants. In 2018 they built a brewery and taproom in Waltham so they could brew all of their beer in house and welcome people from the community.
Mighty Squirrel has grown in leaps and bounds over the past three years and is now in the top 2% of the 9,000 breweries in the country and is ranked in the top 10 breweries in the state out of more than 200.
To meet the demand for their beer, Mighty Squirrel needed to install additional brewing equipment and infrastructure. Co-Founder Henry Manice approached Leader Bank to help finance this crucial growth that will allow the brewery and taproom to continue their incredible success.
The Bank’s Commercial Lending team worked with Mighty Squirrel to offer a $1.75 million loan to help finance new equipment at the brewery including a new canning line, centrifuge, silo grain-in and grain-out system, keg cleaner and filler, and numerous fermentation tanks. The loan will also help the brewery build out the infrastructure needed for this new equipment.
With these additions, Mighty Squirrel expects an increase in profits through improved efficiency in several key areas as well as reduced raw material costs. With the assistance of Leader Bank’s Commercial Lending team, the brewery will now be able to fully lean into the growth in demand for their product with this increased brewing capacity.
"The team at Leader Bank provided us with a lending solution that will set us up for success in both the short and long term."
We are Here to Help
Leader Bank’s Commercial Lending team offers innovative solutions to help our clients achieve their business’s goals. Whether an entrepreneur is looking for a commercial loan on an investment property or a line of credit to help finance new equipment for their business, our Commercial Lending team is ready to provide world-class service in finding the perfect solution for every client.
