NEW BEDFORD – The nonprofit organization Greater New Bedford Industrial Foundation will receive a financing package from Webster Bank that includes a $200,000 line of credit for working capital from, which will be used to support the organization’s short-term cash needs.
The Greater New Bedford Industrial Foundation is responsible for developing the New Bedford Business Park, which is Massachusetts’ fifth largest industrial park.
“We have found Webster to be a very business-friendly bank and have particularly enjoyed our dealing with the New Bedford-based team of Carlos DaCunha, Jeff Pagliuca and Jill White,” said Thom Davis, executive director of the Greater New Bedford Industrial Foundation. “Moreover, we appreciate Webster Bank’s continued support for our efforts to attract more companies to the New Bedford Business Park, help existing companies to expand in the park and create thousands of good-paying jobs for working families in the Greater New Bedford Area.”
The New Bedford Business Park is a key component of New Bedford’s economic engine, said Jeff Pagliuca, Webster Bank vice president, business & professional banking.
The park has nearly four dozen tenants and hundreds of acres available for future development.