Webster Bank Announced Deal to Provide $7.2 Million to Isle Brewers Guild
Webster Bank, a New England Council member, recently closed a $7.2 million financing deal with Isle Brewers Guild in Pawtucket, Rhode Island.
Webster Bank will provide $4 million to the Rhode Island Industrial Facilities Corporation and another $3.1 million loan via the U.S. Small Business Administration. The deal will consist of $2.8 million in bridge financing and $350,000 in working capital line of credit.
“We 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,” said Webster’s Senior Vice President of Commercial Banking Anthony Capuano Jr., who led the transaction.