Business Success Stories
Ernie’s Harvest Time
Poor access to healthy food is a growing problem in Massachusetts. According to the Massachusetts Food Trust, more than 2.8 million people residing in the state’s low income and rural areas lack access to grocery stores, limiting them from fresh produce, quality meat and nutritious options. This number includes over 700,000 children and 523,000 seniors.
Lynn is one of the cities topping the list of communities facing a “grocery gap” – areas labeled as Food Deserts, where the state is poised to foster development of new grocery stores and healthy food enterprises.
Understanding this need, Jorge and Ana Aguirre – along with their daughter Evelyn Figueroa and her husband Johnny – reached out to Coastal Community Capital for loan assistance. Their business, Ernie’s Harvest Time, was a tenant at its downtown Lynn location for many years under their ownership and prior ownership. Concerned that the location might be sold…
they looked to purchase it and secure their future.
Jorge and Ana – Guatemalan immigrants who later achieved US citizenship - took great pride in the fact that their former grocery/convenience store in Everett was one of three recruited as part of a Healthy Marketing Program launched by the state in that town. Jorge built storage bins to display their fresh fruits and vegetables in front of the store, and he created a healthier version of Papusas, one of the more popular take-out items by his Latino customers.
The Aguirres were committed to the healthy food movement and the purchase of Ernie’s and subsequently, its real estate, with their daughter and son-in-law seemed like a natural fit. A grocery store since 1960 (relocated from Boston Street to Essex Street in 2013), Ernie’s is considered by many a staple in the Lynn community and has a loyal following.
They worked alongside the Coastal Community Capital team to secure the commercial loan needed to buy the building at 597 Essex Street in Lynn in 2018. Online reviews of the store praise the new owners’ quality ground beef and deli meats, its healthy food options that aren’t overpriced, and its wide selection of fresh produce.
Ernie’s Harvest Time is a symbol of hope in the movement to eradicate food deserts.
Opportunity Knocks
Pigmenta Permanent Cosmetics - Cape Cod: When it comes to business, finding the right opportunity at the right time is everything.
Just ask Jonanne Saraf Massard, the new owner of Cape Cod’s first Pigmenta Permanent Cosmetics franchise. A client of Pigmenta since 2013, Massard often made the trip from her home on Martha’s Vineyard to Pigmenta’s Boston location. She was confident with Pigmenta owner Julia Dziuk’s expertise in the art of permanent cosmetics, customized microblading and scar camouflage, and with her proven success in delivering natural looking solutions.
At the time she learned that Dziuk was beginning to franchise her established business, Massard was trying to figure out her own professional path.
She knew there was a steady demand for this type of beauty treatment and that it had significant growth potential, particularly on the Cape. She viewed the opportunity as the perfect chance to put her business and marketing background to work, and decided to approach Julia with an offer.
“I knew I would not be reinventing the wheel with this business opportunity,” Massard said. “I’d be following an established model for success. I was ready for the challenge.”
Once they negotiated a franchise deal, Massard got to work. Her top priorities were securing a business loan, finding a location, and hiring/ training a technician for the new business.
Massard was connected to SCORE Cape Cod, and her mentors put her in touch with Coastal Community Capital after reaching out to her bank for loan options. She relied on SCORE‘s guidance to create a business plan and develop cash flow predictions.
“It was such a learning experience for me,” Massard said. “My mentors, Mark Lowenstein and Steve Pinard, along with Bill Flynn and Jeannine Marshall from Coastal, were so positive, supportive and helpful as I navigated the loan process. It made the experience, from beginning to end, so much easier.”
Massard was excited to secure space in an existing beauty salon, Clau’s Beauty Salon and Spa on Main Street in Hyannis. She brought a motivated and reliable technician on board to begin training, and is now looking forward to a grand opening in July. She hopes her central downtown Hyannis location will help draw new customers in, and has also been networking through local Chambers of Commerce and dropping business cards and goodie bags off at local businesses to introduce herself.
In the next year, she hopes to start training a second technician to accommodate a larger client base. And while for now she will serve solely as the new franchise’ s business manager, she plans to eventually get trained herself.
Massard is grateful to SCORE & Coastal Community Capital for giving her both the support and confidence she needed to get her new franchise up and running.
“Coastal Community Capital was always affirming, while Mark & Steve were always pushing me to keep bettering my business plan,” Massard said. “Both helped me explore avenues I hadn’t considered, and they worked with me to tweak my business plan and tweak my way of thinking. In the end, I feel I have become a very independent and strong businesswoman. I look forward to what the future brings!”
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
"In the end, I feel I have become a very independent and strong businesswoman. I look forward to what the future brings!” Jonanne Massard.
Reaping the Rewards of Hard Work
Tripadvisor's top 25 b&b's and inns - Congratulations to two of our borrowers on Cape Cod for ranking in Tripadvisor’s Top 25 B&B's and Inns in the country: Candleberry Inn on Cape Cod in Brewster, which garnered the #1 spot, and the Inn at Cook Street in Provincetown, which ranked #22.
In a year of heavy competition and changing traveler priorities, these two inns exceeded expectations and have been lauded as one of their favorites. Based on a full year of Tripadvisor reviews, the Travelers’ Choice Awards honor the best in travel, recognizing the places that delivered the most exceptional experiences.
“We're humbled by this distinction by TripAdvisor and are truly grateful to our guests for their support, to our staff for helping us to achieve this, and to our community partners of fantastic restaurants, shops, and galleries that make the Cape a destination,” said Candleberry Inn on Cape Cod owners/innkeepers Marco DiDomizio & Angelo Ferraro.
“We are incredibly honored to be so highly rated by our guests," said Dustin & Spencer, owners/innkeepers of the Inn at Cook Street. "This was an incredible year where we had the pleasure of hosting so many visitors to Provincetown from across the country. There is no better reward than seeing the Inn at Cook Street landing in the top 25 of all Inns/Bed & Breakfasts in the United States."
It is truly exciting for all of us at Coastal Community Capital to see the hard work these amazing innkeepers pour into their small businesses pay off!
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
Pivoting for Success
q's nuts - The pandemic forced many small businesses to change and adapt, and Boston-based Q’s Nuts was no exception.
A family-run business launched in 2000 by spouses Brian and Beth Quinn, Q's Nuts is a small batch nut roasting company that produces over 20 unique flavors of vegan nuts. Over the years, the business has become a city staple, growing to include two storefronts and a healthy online business.
“We’ve always been primarily a retail store, with steady growth in wholesale and internet sales on the side,” said Beth. “But the pandemic totally shifted our focus. National wholesale business grew very rapidly, and internet sales followed. In order to accommodate these larger orders coming in, we needed a larger and more functional operational space for production.”
Beth said purchasing commercial property was a major goal in their 3-5 year business plan. However, such obstacles as limited real estate inventory and high prices in and around Boston made finding the space they needed seem unattainable.
She said the pieces finally came together through a series of professional connections. First, a business adviser introduced them to a business broker who had commercial space that fit both their budget and their operational needs. They then connected with a local bank, which led them to Coastal Community Capital. With Coastal’s help, the Quinns secured an SBA 504 Loan for the commercial real estate purchase, which required only a 10% down payment and provided the benefit of a low interest rate, fixed for 25-years.
“The SBA loan process and all of the paperwork that comes with it can be overwhelming for a small business like ours, and Coastal knew just how to navigate and expedite that process,” Beth said. “They are true advisors. They held my hand from start to finish.”
She said the future looks bright for Q’s Nuts, and the new commercial space enables them to bring in larger equipment that will speed up processing and increase productivity.
“We never would have gotten through this process without Coastal,” said Beth. “Working in tandem with our bank, they were critical in helping guide us through the process of buying a commercial property.”
To learn more about Q's Nuts, visit https://qsnuts.com.
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
“The SBA loan process and all of the paperwork that comes with it can be overwhelming for a small business like ours, and Coastal knew just how to navigate and expedite that process." Beth Quinn
Timing Is Everything
The GREAT BARNS COMPANY - When it comes to business, timing is everything.
The Great Barns Company got its start over 6 years ago, when co-owner Christopher McGrath decided to build upon a 30-year reputation of expert craftmanship to realize his own dream of starting a small business. Founded by Christopher and his wife Christine, Great Barns has taken the helm in constructing some of Cape Cod’s most distinctive timber-frame barns, garages, pergolas, tiny homes and outbuildings.
The business was growing rapidly until the pandemic hit in 2020, leading to temporary labor shortages that hindered productivity. When the pandemic began to settle, the McGraths were able to regroup with a fleet of dependable, talented workers ready to meet rising demand and take the business to the next level. It was then the McGraths knew the time was right to invest in a permanent home.
“The banking relationship with Coastal enabled us to realize that we could own commercial property and that it was attainable without too much stress,” said Christopher.
Great Barns Company had faced premium rents over the years as they struggled to find a location, and their current leased shop was small and not conducive to lumber deliveries. They came to Coastal Community Capital for assistance in securing a loan to purchase commercial space that would provide needed room to grow.
“Coastal Community Capital was extremely approachable and easy to work with,” said Christine.
Great Barns’ new location in Yarmouth will allow the small business to receive deliveries more efficiently and potentially expand down the road to include retail sales of lumber and building materials.
“Now that we have a commercial property and a place of business, we feel that we can buckle down, organize, and begin our journey of expansion for our current business,” said Christopher. “It has allowed us to go from renting to owning, which transforms our current business with more opportunities for growth.”
Added Christine, “Coastal’s involvement in our loan was the best thing that could have happened. Nick took over completely and was on top of every aspect. It was a very smooth process!”
To learn more about the Great Barns Company, visit https://greatbarnsco.com.
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
“The banking relationship with Coastal enabled us to realize that we could own commercial property and that it was attainable without too much stress.” - Christopher McGrath
Turning a Passion into a Business
CAPE COD BREW BUS - A home-based brewer for the past decade, Ryan Higgins dreamed about doing something with the craft beer world that reflected his love for the Cape and for great beer.
A home-based brewer for the past decade, Ryan Higgins dreamed about doing something with the craft beer world that reflected his love for the Cape and for great beer.
As passionate as Ryan and his wife, Emily, are about the craft beverage industry, they are equally as passionate about the local community and keeping it safe. Ryan is a Mashpee Firefighter and Paramedic , and Emily is an emergency dispatcher at the Emergency Dispatch Communications Center on Otis Airforce Base. In their roles as public servants, the Higgins are all too familiar with the dangers of drunk driving, especially in peak season when even more cars are on the roads.
“It finally came to us that a brew bus business was exactly what the Cape is lacking,” Ryan said. “The brew bus is a way to let people immerse themselves in the craft beer culture happening on Cape Cod, but in a safe and responsible way. ”
Ryan worked closely with SCORE Cape Cod to develop a business plan for the Cape Cod Brew Bus, before moving on to the next step of securing financing. They looked into traditional lenders, but decided to reach out to Coastal after being referred by SCORE mentor Mike Baker. Having already joined the Cape Cod Chamber of Commerce for the brew bus, the Higgins liked the fact that Coastal was the sister company of the Chamber and housed in the same building. “I met with (VP of Commercial Lending) Bill Flynn to discuss my small business loan in the same room where I met with (Membership Account Executive) Kim Kayajan to join the Chamber. It seemed like a natural fit.”
The small business loan through Coastal enabled Ryan and Emily to purchase the 14-passenger Brew Bus and cover their start-up costs associated with the business. Ryan said the loan process went off without a hitch. “Our experience with Coastal was smooth and streamlined, from start to finish,” he said. “They were with us every step of the way.”
The Higgins ran their first Cape Cod Brew Bus tour on June 20th, and now operate tours Wednesdays through Saturdays to breweries including Naukabout in Mashpee and Hyannis-based Cape Cod Beer and Barnstable Brewing. They plan to expand their family business to more breweries as the business grows, as well as offer new tour experiences that feature both wineries and even coffee houses.
“A brew tour like this is all new to Cape Cod, and all new to these breweries,” said Ryan. “We want to provide people with good times in a safe manner. But these tours are about more than people just drinking beer. People on our tours are seeing where the beer is made, talking to the brewers, meeting other people on the bus. We are making great experiences with every group.”
To learn more about the Cape Cod Brew Bus or to book a tour, visit capecodbrewbus.com.
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
“Our experience with Coastal was smooth and streamlined, from start to finish,” he said. “They were with us every step of the way.” - Ryan Higgins
Small Business Mentoring That Works
NEW ENGLAND REPROGRAPHICS - Like many entrepreneurs, Neal Larsson knew that when launching a business, it’s all about the timing.
After 21 years spent helping to grow and expand locally-based On the Water Media Group throughout the Northeast, he was ready for a new challenge. “I’ve always wanted to own my own business,” Larsson said. “But coming from On the Water, which has such a solid reputation and great customer service, it was very important to me to find a business with those same ideals.” When New England Reprographics came up for sale, the timing just clicked.
Owned and operated by the Kesten family for over 30 years, Larsson was impressed with the digital printing company’s commitment to high quality work and strong customer relationships. “It was a perfect fit,” said Larsson. “It was good timing all around.”
Larsson reached out to Coastal Community Capital for assistance with an action plan to walk him through the process of acquiring New England Reprographics. “Jeannine at Coastal Community Capital really broke it down for me and pointed me in the right direction on each phase - SCORE mentors, lending professionals, valuating and negotiating price,” Larsson said. “She made all the resources and connections right at my fingertips. “ He said Coastal provided valuable advice to help him avoid some unforeseen pitfalls. “It really all fell into place with some great guidance and mentorship from Coastal, and my SCORE advisors, which Jeannine set me up with.”
In late 2020, Neal and his wife Lisa took over as the new owners of New England Reprographics. Now in month two, the business is growing already.
“I took the first month to learn the production side of the business from the ground up,” Larsson said. “We’ve just bought a state-of-the-art printer for our CAD customers which gives us a huge competitive advantage and am hiring another part time person, which will allow me to get out and meet with clients. In the coming months we’re looking to get back to pre-COVID numbers and beyond. The future is bright!”
Larsson added, “It’s been my dream to own my own business, and I don’t think I could have pulled this off without the guidance that Coastal provided.”
To learn more about New England Reprographics and the services they offer, visit newenglandrepro.com.
Financial support for Coastal's mentoring programs was provided by the Massachusetts Growth Capital Corporation.
“Coastal Community Capital really broke it down for me and pointed me in the right direction on each phase - SCORE mentors, lending professionals, valuating and negotiating price...I don’t think I could have pulled this off without the guidance that Coastal provided.” - Neal Larsson
A Snapshot For Business Success
MV PHOTOBUS - The idea for Mark Lacourse’s new business venture was born during a charter cruise he captains on Martha’s Vineyard. Circling around the Island during a sunset sail, he realized it didn’t matter if the cruise was 15 minutes long or one hour, as long as the passengers aboard were able to capture that one perfect keepsake photo.
The start-up small business he launched – MV PhotoBus – helps people do just that. Lacourse has taken a 1976 Volkswagen Bus, turned it into a state-of-the-art Photo Booth, and is marketing it as an exciting amenity to add to wedding festivities, private parties and corporate events.
The photo bus trend has been picking up steam in recent years, as a kitschy mobile alternative to traditional photo booths. The vintage feel of the Volkswagen bus is part of its appeal; fun props, professional technology and instant photo prints round out the unique experience.
“There is nothing like it on the Vineyard, and the weddings market on the island is big business,” Lacourse said. “I knew I could make it work. I just wasn’t sure where to start.”
After encountering some challenges while seeking a small business loan through a traditional lender, his father suggested that a community development lender like Coastal Community Capital may be able to get more creative in its lending strategy.
“I don’t think I would have been able to do it without Coastal’s help,” Mark said. “I really only pursued one other avenue, but I was quickly able to surmise it was going to be much more challenging going the route of a traditional lender.”
Lacourse said Coastal worked with him to secure a loan that was structured for seasonal businesses like his, and the rest is history. He opened MV PhotoBus in the summer of 2018.
“I’m now in my second season in business, and I’m projecting to more than triple the amount of revenue I did last year,” Lacourse said. “Business has been great!”
Also keeping him busy are a new luxury restroom trailer he’s marketing for events (an expansion of his photo booth business), along with graduation parties, private functions, and community celebrations. “I may make more doing a wedding or private event, but participating in the community events is equally important,” he said. “It builds goodwill and it builds exposure.”
MV PhotoBus was also featured in a national news story about the rise in popularity of photo booths at private functions, and Lacourse said he saw a spike in web visits after it ran in July.
To learn more about the MV PhotoBus or to book an event, visit mvphotobus.com.
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
“I don’t think I would have been able to do it without Coastal’s help. I really only pursued one other avenue, but I was quickly able to surmise it was going to be much more challenging going the route of a traditional lender.” - Mark Lacourse
Keeping Her Dream Alive
RISE VINEYARD PERFORMING ARTS - Jil Matrisciano established RISE Vineyard Performing Arts in 2007 to provide children living on Martha’s Vineyard with a classical and diverse dance education in a studio setting they could call home. The dance studio grew and thrived over the years, but in 2016...
Matrisciano said. “Space is a limited commodity on the Vineyard, making it a challenge to find another property to move my business too. My main concern was keeping my studio alive.”
Like many small business owners, accessing the capital needed to acquire the property was the main stumbling block that Matrisciano faced. The bank she approached wanted to help, but there was only so much they could do, so they connected her with Coastal Community Capital, which offers a low down payment, low fixed 20-year interest rate loan.
“Coastal Community Capital made buying the property possible,” Matrisciano said. “It wouldn’t have happened otherwise.” She said Coastal Community Capital was "helpful, knowledgeable and accessible" throughout the challenging loan process.
Today, Matrisciano proudly owns the property that houses her dance studio. She has hopes for future expansion, but for the time being is content with the peace of mind the property purchase has provided her.
“This has given me a sense of security, knowing that the business I worked so hard to build and the services I provide to children can continue to exist,” she said. “Year-round businesses on the Vineyard like mine are the backbone of the Island community.”
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
"This has given me a sense of security, knowing that the business I worked so hard to build and the services I provide to children can continue to exist." – Jil Matriscianoha Leonard
One Quahog At A Time
QUAHOG REPUBLIC - Erik Bevans formerly owned and operated the Mashnee Island Grill for many years. The grill, located in a great waterfront location in a dense neighborhood, was open seasonally from April through October and was extremely popular. Despite its popularity, neighborhood residents were outspoken in their opinion that the location was not appropriate for a restaurant. Unable to renew the lease, Erik was forced to vacate...
Not to be deterred, he partnered with Tom Hughes and reopened the Quahog Republic Dive Bar in Falmouth in May 2010. The restaurant has a casual Cape Cod atmosphere with themes of quahogs, deep sea diving, and laid-back summer fun. With a menu bursting with local seafood, drink selection, and other American favorites, Quahog Republic now keeps its doors open year-round. In addition to the restaurant, Erik and Tom also manufacture and retail quahog related apparel products, creating a true Quahog Republic brand.
In 2012, Erik and Tom worked with Coastal Community Capital to open a second restaurant in Onset village that reclaims the beautiful waterfront location formerly enjoyed on Mashnee Island. Pleased with the success of both the year-round Falmouth location and seasonal Onset restaurant, the business partners sought Coastal's lending support again in 2015 to open a third year-round location in the New Bedford waterfront district. In 2023, they opened a fourth location in Woods Hole. Their restaurants have been featured in The Boston Globe, on Phantom Gourmet and have garnered many readers’ choice awards for their chowder and lobster rolls.
"Coastal Community Capital has opened so many doors for us," says Tom. "They got us the lowest rate with the quickest turnaround. They are a huge champion for small businesses."
In addition to food and fun, Quahog Republic also gives back to the community through giving to and supporting local charities. Staying involved in various events throughout the year that support local charities keeps Erik and Tom busy but content.
Coastal Community Capital is proud to lend to businesses like the Quahog Republic, who create goodwill in the community through the creation of jobs and giving to local charities. They are past recipients of our Small Business of the Year award and we look forward to many years of their success.
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
"Coastal Community Capital has opened so many doors for us. They are a huge champion for small businesses." – Erik Bevans And Tom Hughes
Veteran Seizes Small Business Opportunity
The Plum Porch - Sisters Samantha Leonard and Corrie Mays had plans to one day open a business together on Cape Cod. Building a business in their hometown of Marstons Mills was a mutual dream. But the timing was not quite right. While Leonard had put down roots on the Cape, Mays was still on active duty for the U.S. Marine Corps, stationed with her husband — a former Captain in the Marine Corps — in Pensacola...
And then fate stepped in. In summer 2017, Leonard and Mays reached out to the Plum Porch, a charming boutique gift shop with a longstanding reputation as a great place for unique finds and locally produced gifts. Their hope was that the shop’s owner would be willing to carry a small online apparel line the sisters had designed.
They were disappointed, however, to find out that the shop had closed, creating a large void in the Marstons Mills commercial center. Upon further digging, they learned from the shop’s original owner – who had retired and sold the business back in 2015 – that the new owner had decided to close the shop after two years.
“It was one of those moments where we had to do a gut check and go with our instincts,” Mays said, of their decision to take over the retail location. “This definitely wasn’t the original plan. But this type of opportunity doesn’t happen every day.”
With no experience in commercial lending, the sisters were having difficulty finding a lender who was willing to provide business asset financing. Furthermore, they became frustrated by their lack of knowledge of appropriate questions to ask. Eventually, a residential lender referred them to Coastal Community Capital.
Coastal educated and coached Mays and Leonard on the complexities of commercial borrowing. In addition to education, Coastal provided structural options for purchasing the business and real estate at different times, which allowed them to open the store before the busy Christmas season.
“We didn’t find that with any other lenders we had approached,” Mays said. “Coastal Community Capital understood our intent and our situation, and they wanted to get to know us. They personalized the experience for us, and the entire process felt very much like a true partnership.”
Less than eight weeks after the sisters approached Coastal, they reopened the doors of the Plum Porch, creating a new business and employing nine. They look forward to purchasing the real estate in the future.
"Plum Porch is a staple in the community, and a destination for many people,” Mays said. “We are committed to keeping this the same store that so many people – including us - have known and loved.”
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
"Coastal personalized the experience for us, and the entire process felt very much like a true partnership." - Corrie Mays And Samantha Leonard
Maximizing Efficiency Led To Business Success
TULEIKA BUILDING COMPANY - Success in business opens the door to new opportunities. It also can mean new challenges.This was the case for Viktar Tuleika, who in 2010 saw his residential construction company steadily grow and expand. Tuleika Building Company – which specializes in custom building and remodeling – was inundated with multiple jobs across the Cape, but...
That year, he approached Coastal Community Capital, which helped him secure funds to purchase a trailer to increase productivity. In 2011 and 2012, he purchased two additional trailers with Coastal funds, enabling him to optimize performance, complete jobs on schedule, and create new jobs.
“With help from Coastal Community Capital, I was able to purchase a much needed piece of equipment, which ultimately helped our staff to do their job faster and safer, and it saved us tremendous time on job sites,” Tuleika said. “The end result was a happier workplace and greater profits.”
In 2016, Tuleika Building Company’s growth continued, as did the company’s reputation for high quality craftsmanship. Based on his positive relationship with the team at Coastal Community Capital, he sought out Coastal’s help once again to purchase additional equipment.
“Working with Coastal Community Capital simplified the loan process for me,” Tuleika said. “They are helpful, knowledgeable, accessible, and they don’t waste your time. For a small business owner, there is nothing more important than that.”
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
"The end result was a happier workplace and greater profits." - Viktor Tuleika
Seeing Their Vision Through
SALT HOTELS - David Bowd and Kevin O’Shea had a clear vision for their first hotel venture back in 2011: blending the modern amenities of urban boutique hotels with the intimate and personalized charm of a bed and breakfast. With Bowd’s 25+ years in the boutique hotel...
The partners said they finally found that support through Coastal Community Capital.
“From start to finish the team at Coastal Community Capital was exceptional,” Bowd and O’Shea said. “They talked us through the process step by step and treated us as partners from the very beginning, working with us as we secured the SBA loan. There were bumps in the road and throughout the team was accessible and approachable, and made the whole process easier.”
Five years since their initial loan with Coastal Community Capital, Bowd and O’Shea are the founders and co-owners of Salt Hotels, now a thriving collection of boutique properties that redefine the concept of a class B&B with a fresh, contemporary approach. The Salt House Inn and Eben House are their two Cape Cod properties, located in Provincetown. They also have properties in Asbury Park, New Jersey and Shelter Island, New York.
In 2016, the partners applied for their third business loan with Coastal Community Capital. With this loan, they will expand Eben House to include a four-guestroom property abutting the inn.
Today, Bowd and O’Shea’s company has grown to over 200 employees in three locations. Their first hotel – The Salt House – has been named to Travel & Leisure “World’s Great Hotels” list, and three of their four hotels have made Conde Nast Traveler’s “Hot List." Their most recent expansion will enable them capture overflow business from their two successful Provincetown properties, which they previously had to refer out to other B&BS and inns.
The two are excited for their company’s future, and for the vision they saw to fruition.
“I really don’t think this would have been possible without the early and continuing support of Coastal Community Capital,” Bowd and O’Shea agree.
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
"I really don't think this would have been possible without the early and continuing support of Coastal Community Capital."– David Bowd And Kevin O'shea
Expanding Into Uncharted Waters
CAPE COD SPORTSMEN - Frank (Len) Greiner is no stranger to the sea. With 20+ years as a charter boat captain and commercial fisherman, and a graduate of Mass. Maritime Academy, the waters off Cape Cod are like his second home. In 2016, the longtime owner of the Harwich Port-based Cape Cod Sportsmen charter fishing service decided to expand his business into uncharted waters. After securing an additional boat slip in Saquatucket Harbor, he hoped to expand...
“I have a history with Coastal Community Capital, having worked with them many years ago when I bought my first boat,” Greiner said. “So we already had that relationship and rapport in place.”
He said Coastal gave him a short list of exactly what he needed to provide for the commercial loan and he made it happen.
“After that, the pieces of the puzzle came together quickly,” he said. “Coastal made the process as easy as could be, and it was expedited too.” Within 13 days, the loan was closed.
The 41-foot, 17-passenger vessel Greiner purchased with his commercial loan will be used for whale watching, seal watching, fishing and sunset trips. It is set to make its maiden voyage on Memorial Day Weekend of 2017. He is excited about the possibilities that lie ahead for the new business venture, and cites the planned renovation and expansion of his home base at Saquatucket Harbor as a great opportunity for enhanced visibility.
As he reflected on his recent loan experience, Greiner said he would not hesitate to work with Coastal Community Capital on future commercial projects, or to recommend Coastal to other small businesses. “They would be my first and only recommendation.”
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
"Coastal made the process as easy as could be, and it was expedited too." – Len Greiner
Coastal/MGCC Grant Fuels Creative Marketing Initiatives
PLACES TO GO, LLC - Ed Pacheco had a marketing concept in mind that would help take his small business to the next level. So when he learned about a unique grant opportunity through Coastal Community Capital that would help support his vision, he jumped on it. Places to Go, Pacheco’s full-service livery company that launched four years ago, was one of two...
“This grant was extremely beneficial for my businesses,” Pacheco said. “We’ve had a very positive response from the marketing it’s allowed us to do. We’ve seen business growth already.”
Pacheco used the mini-grant funds he received towards a new business website design; the site’s enhanced functionality and navigation will hopefully increase online bookings, he said. He also used funds to hire a professional design firm to strengthen the company’s brand, by creating a cohesive portfolio of direct mail postcards, flyers, ads and signage.
“To be able to get professionally designed marketing collateral that is streamlined and impactful was huge for us, and for our branding,” he said.
Pacheco said he’s excited about the early success of the campaign. The direct mailer, which went out to targeted zip codes, has already generated over 18 bookings, with an average retailprice of $200 each. He’s also seen private livery appointments jump from one per week to 3-4.
Another of his marketing initiatives took on a life of its own. The newly designed marketing collateral included sandwich boards, and instead of taking out a help wanted ad in the classifieds, Ed reached out to panhandlers in the New Bedford area to offer them the work. Three people ultimately took him up on the temporary job opportunity to wear the sandwich boards and help promote his business. They were told they cannot panhandle while working or they would be fired.
Word of this creative and unorthodox approach quickly spread and news outlets in the region picked up the story, creating high engagement on social media and driving web traffic to his site. He was even recognized by the New Bedford City Council for his efforts to alleviate the panhandling problem in the area by creating local jobs.
“It was like the old adage: You throw something against the wall to see if it will stick,” he said. In this case, it stuck.”
The MGCC’s Small Business Professional Development mini-grant program was made available to the small business clients of lenders like Coastal Community Capital. The program was successfully piloted on FY2015 and benefited almost 70 small businesses in Massachusetts.
Coastal Community Capital is a non-profit community development lender serving Massachusetts businesses with commercial lending expertise since 1995. For more information on how Coastal Community Capital can help support your business, fill out an online loan inquiry form at CoastalCommunityCapital.org or call 508-790-2921. This institution is an equal opportunity provider and employer.
"It was like the old adage: You throw something against the wall to see if it will stick. In this case, it stuck."– Ed Pacheco
Childhood Connection Leads To New Career
REVERE GUEST HOUSE - Paul Novak’s strong connection to Provincetown dates back to his childhood, when his family would return year after year to stroll the beautiful beaches and vibrant Commercial Street.These memories - captured perfectly in old family snapshots – grace the walls of the historic inn Paul now owns in the town he fell in love...
“I have pictures of my parents taken at the Moors restaurant from before I was born” says Paul, who purchased The Revere Guest House at 14 Court Street in Provincetown in October 2015. “It’s that history that brought me back.”
With a professional background in customer relations and operations in various software companies, becoming an innkeeper may have not been the first thing on Paul’s mind when he returned to Provincetown in his early 30s for his first summer season. But that quickly changed once he purchased a condo directly across the street from the Revere Guest House, a beautifully restored 8-room colonial house owned and operated for many years by Gary Palochko and his partner David.
“I would literally sit and watch guests coming from and going to the inn from my kitchen table window,” said Paul, who soon became friends with the innkeepers across the road. “Gary and David introduced me to the process of being an innkeeper, and what is involved in running an high service and quality inn and keeping your guests happy.”
Paul was drawn to the world of innkeeping, saying “I even told them at one point, ‘Someday, I’m going to buy your inn’.”
That day came in late 2015, when the Revere Guest House went on the market. Through his financial adviser and Eastern Bank, Paul was put in touch with Coastal Community Capital to guide him through the SBA loan process.
“When I told people I was applying for an SBA loan, there would be a look of horror on their face,” Paul said. “You’d think I had told them I was going to jump into a pit of fire. It made me question whether it was the right route for me to take to buy the inn.”
He said his concerns were quickly alleviated. “Coastal Community Capital made the process so incredibly simple. I threw them a lot of curves along the way – the loan amount changed, the loan structure changed, everything changed - to the point that the deal was going to fall through. But they made everything work.” He added, “Being new to the process, it was stressful, but it wasn’t hard. Coastal kept me on point and did all of the hard work. They saved the loan. I was very impressed and could not have done it without them.”
Now officially in the role of innkeeper, Paul is excited at what lays ahead. He looks forward to his first summer running the in, and to broadening his network and connections through his involvement with the Cape Cod Chamber of Commerce. He also hopes to work again with Coastal on acquiring another inn down the road.
But for now, he’s staying focused on maintaining the Revere Guest House’s longstanding reputation of fine hospitality and customer service – which is likely the reason that the inn’s average guest has been coming back for 10+ years.
“An inn is a product,” Paul said. “It needs to stay consistent for the people who have come year after year, but it also needs to improve and evolve. That’s what we will do.
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
"Coastal Community Capital made the process so incredibly simple. I threw them a lot of curves along the way... but they made everything work." – Paul Novak
Building On Success
SHAW WOODWORKING - Jim Shaw’s passion for woodworking was first ignited as he worked in his father’s general contracting firm. In 1997, he and his wife Vicki turned that passion into a full-fledged business when they opened Shaw Woodworking. Shaw Woodworking – which specializes in the design of custom cabinets and...
In 2010, Jim and Vicki decided it was time for the business to grow. An adjacent unit to their current facility had become available that would more than double their size and add two commercial bays. The expansion would also provide room for three new assembly stations, a professional showroom and additional office space, enabling the Shaws to increase efficiency, hire more staff, and stay competitive in the market.
“We needed capital to take us to the next level,” Jim said. “Coastal Community Capital provided us the resources to be able to do that.”Jim and Vicki said Coastal Community Capital walked them through the loan process from beginning to end. “They were informative and more than willing to work with us,” said Vicki. Jim added, “We liked that Coastal Community Capital was local. They weren’t so big that we were just another loan, or that we didn’t matter.”
Today, Shaw Woodworking is thriving in its modern 7,500 square foot manufacturing and office facility. Since their expansion, they have exceeded sales and revenue every year. They also employ more people, and can provide a better customer experience thanks to the new showroom.
“Coastal Community Capital is wonderful to work with,” Vicki said. “They gave us the tools we needed to make it work, and they educate you on what you need and why you need it. We would definitely recommend Coastal to any business owner looking to expand!”
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
"We needed capital to take us to the next level. Coastal Community Capital provided us the resources to be able to do that."– Jim Shaw
A Home For His Passion
SANDWICH ANTIQUES CENTER - A longtime entrepreneur in the healthcare industry, Paul Dobson had his hands full owning and operating a successful medical device company. But he still managed to find time for one of his life’s passions: collecting, buying and selling antiques. After nearly three decades of antiquing, Paul’s impressive collection of rare...
The perfect opportunity came when Sandwich Antiques Center came on the market. One of the finest multi-dealer shops in New England, and voted the “Best Antiques Store” on Cape Cod for 11 years by Cape Cod Life readers, the shop is housed in an antique building on historic Route 6A. Intrigued by Sandwich Antique Center’s stellar reputation for quality art and antiques, Dobson also recognized Cape Cod’s appeal to visitors as an antiquing destination.
With the help of former Sandwich Antiques Center owner Peter Smith, Dobson approached Coastal Community Capital, who guided him through the process of buying and opening his own antique store, from start to finish.
“In terms of opening doors, without Jeannine Marshall and the folks at Coastal, the transaction could not have occurred, period,” he said.
Sandwich Antiques Center officially opened under Dobson’s ownership in November 2015. The store will continue to feature the antiques of 100+ vendors, along with the pieces from Dobson’s own extensive collection. He plans to keep the shop’s experienced, longtime staff, who he considers an asset to the operation.
Moving forward, Dobson is optimistic about the future of Sandwich Antiques Center, and is excited to see his longtime passion finding a permanent home. Coastal Community Capital and Cape Cod Chamber of Commerce – of which he is a member – will continue to serve as a resource for the new business owner.
Dobson said he would highly recommend Coastal Community Capital to anyone looking to start or grow their small business. “Not only did Coastal make this easier,” Dobson said, ‘they made it possible.”
Financial support for this loan was provided by the Massachusetts Growth Capital Corporation.
"Not only did Coastal make this easier, they made it possible."– Paul Dobson
From Listing To Long-Term Investment
WALPOLE WASH HOUSE - When commercial realtor Stefan Frey took a look at his new listing last fall, he saw more than just a real estate sale. He saw an opportunity. The listing was Triton Car Wash...
Both his attorney and banker pointed him in the direction of Coastal Community Capital, where he found the resources he needed to move forward on the purchase.
“Jeannine Marshall was so helpful throughout the process,” he says. “Coastal Community Capital is a great avenue for small business owners to access financing and lock in 20-year rates with little money down, something you don’t always get with conventional financing.”
Stefan bought the car wash in October 2014 and re-opened it as The Walpole Wash House.
“I love it!” he said of his experience so far. “I have a great general manager and a great staff, and we’ve been getting some very positive feedback from the community. We’re committed to our customer service.”
"Coastal Community Capital is a great avenue for small business owners to access financing and lock in 20-year rates with little money down, something you don't always get with conventional financing." – Jim Shaw
Tackling a New Venture
COMMERCIAL FISHING VESSEL 'SEA HORSE' - A commercial fisherman on Martha’s Vineyard since 2006, Andrew Wheeler had the tools and expertise to oversee a fishing venture. From permitting and purchasing to the capture and sale of his catch, Andrew had learned and mastered the daily operations of running a successful commercial fishing business. Now he just needed the right opportunity to start…
That opportunity came in 2014 with the option to purchase the fishing vessel ‘Sea Horse.’ Andrew first tried to secure a bank loan, but encountered challenges often faced by start-up businesses, including high interest rates and large down payments. He also lacked guidanceand support. After doing some online research, he found Coastal Community Capital and reached out for help.
“Coastal Community Capital opened doors for me,” Andrew says. “Marcia Gaudet (from Coastal) coached me through the whole process, right up to the closing. Living on an island can sometimes make communication difficult, but Marcia was always accessible by phone and email, and was kind and courteous.”
In the end, Coastal Community Capital helped him to access the small business loan he needed to buy and retrofit the ‘Sea Horse’, and secure the commercial fishing permits he needed to get his business off the ground. Vineyard Haven on Martha’s Vineyard will be Andrew’s homeport. He will harvest primarily in Nantucket Sound, and his catch – which will include conch, bluefish and mackerel – will be sold to national seafood distributors on the East Coast.
Andrew said starting a family of his own was a motivating factor in his new business venture. “I felt like the time was now to get my own boat and permits and give this a go,” he says.
"Coastal Community Capital opened doors for me." – Andrew Wheeler
The First of its Kind on Cape Cod
KRAV MAGA BOSTON CAPE COD - Krav Maga Boston Cape Cod evolved from a longtime training relationship between Pat Carty, Rob Bitinas and Dennis Amato. A lieutenant with the Barnstable Police Department, Pat trained for 12 years with Krav Maga Boston, which teaches a reality-based self defense system that is fun, effective and can be performed by anyone, regardless of size, strength or athletic ability. After joining forces…
But without a permanent location on Cape Cod to offer this specialized training, the two saw a strong need to open a Krav Maga studio here. They partnered with Charles Kipnes and Krav Maga Boston owner Dennis Amato to make that happen.
They found the site they wanted at 11 Enterprise Road in Hyannis, and reached out to Coastal Community Capital and Cape Cod Five Cents Savings Bank to help guide them through the challenging loan process.
“The process was difficult,” Kipnes says. “There were a lot of moving parts. Marcia Gaudet and Coastal Community Capital were instrumental in their ability to sort through the various financials and get to the heart of the transaction.”
The new Hyannis studio is first of its kind on Cape Cod, Kipnes says, adding "This would nothave happened without the efforts and understanding of Coastal Community Capital. We all highly recommend Coastal Community Capital as a resource for small business.”
"This would not have happened without the efforts and understanding of Coastal Community Capital." – Charles Kipnes
Thinking Big Was his Key To Success
LANDMARK DENTAL - When he decided over a decade ago to open his own private dentistry practice, Dr. Ilya Livshin was sure of one thing. He wanted to think big. “A lot of people who open a business want to start small, and then before long they outgrow their business location,” Dr. Livshin explains. “My goal was to create a state-of-the-art facility where I could…
This way of thinking has served him well. With the help of Coastal Community Capital and Edgartown National Bank, Landmark Dental opened its new office in Norwood in 2006. Offering advanced restorative and cosmetic dentistry skills, the practice has grown by over 500% in the last 10 years and expanded to include such services as implants, teeth whitening and advanced cosmetic procedures.
“The help I received from Coastal Community Capital was invaluable,” Dr. Livshin says, looking back in 2015.
Dr. Livshin said when he first reached out to Coastal Community Capital, he was certain about his goal of branching out on his own, but he needed assistance navigating the often challenging course of securing a business loan.
“Coastal Community Capital sat down with me to create a comprehensive business plan,” he said. “Without that, I couldn’t have secured the SBA loan I needed to open my practice. The level of personalized service and guidance I received was exactly what I needed.”
Landmark Dental is located at 77 Access Rd Suite 1 in Norwood, and also serves the surrounding communities of Canton, Sharon, Stoughton, Foxboro, Westwood, Dedham, Milton, Needham, Newton, Wellesley, and Boston. To find out more, visit www.landmarkdental.net
"My goal was to create a state-of-the-art facility where I could continue to grow over the years. I was thinking of the future, and a place I could still be thriving in 20-30 years down the road." – Dr. Ilya Livshin
Seizing the Opportunity: Hook, Line & Sinker
L'ALOUETTE BY CHRISTIAN - With over 35 years experience in the local restaurant industry, the father-and-son team of Walter and Christian Schultz were excited about the prospect of opening their own restaurant again. The family, which formerly owned and operated the successful Chatham Arms Restaurant on Chatham Main Street and Academy Ocean Grille in Orleans, were just waiting for…
That opportunity arrived when the acclaimed restaurant L’Alouette on Route 28 in Harwich became available for purchase.
“I went in hook, line and sinker,” said Christian, who has held management and executive chef positions in some of Cape’s finest restaurants.
Christian said that after finding the property, they were referred to Coastal Community Capital through a local bank that also assisted with the restaurant purchase. “(Coastal Community Capital Loan Analyst) Bill Flynn came with me to see the property, and he believed in me and in the value of the property enough to move forward,” Christian said. “He saw what I saw.”
The 75-seat restaurant – renamed L’Alouette by Christian – opened in early June 2014, after undergoing extensive renovations. The new restaurant offers casual fine dining with global cuisine and local seafood, with menu items including everything form Bouillabaisse, Tuscan Eggplant Ravioli and Black Pearl Salmon to Grilled Duck and Braised Lamb Shank.
Christian said he opened the restaurant with lofty business goals in mind, all of which have been met in the first few months. By August, the restaurant had 100-110 dinner reservations per night, and often had to turn people away at the door on weekend. He said that the majority of their business is word-of-mouth, with little to no advertising in place. “We put our nose to the grindstone and we are pleased with the success.”
He said he wouldn’t hesitate to refer Coastal Community Capital to anyone looking to purchase or expand their business.
“Coastal was so easy to work with throughout the process,” Christian said. “They were supportive, there were no complications and they really took care of everything. It was a very positive experience.”
"Coastal was so easy to work with throughout the process. They were supportive, there were no complications and they really took care of everything." – Christian Schultz
New Venture Revolutionizes Home Improvement Projects
MUSSELBOUND LLC - For years, Brewster resident Terry Jones had been sitting on an idea that he believed would revolutionize home tile projects. He had a product concept and he had a plan. Now he just needed the financial backing to make it a reality. “I was referred to Coastal Community Capital, and Jeannine was a believer,” Terry said. “They could see my vision and they were committed to helping me see it through.” That was…
Terry and his wife – can be found in Lowe’s, Menards and Floor & Decor stores across the nation. The company was funded by a loan via a CDFI grant administered by Coastal Community Capital.
Musselbound Adhesive Tile Mat was engineered specifically for tiling applications, to provide an innovative way to install tile faster and easier than traditional methods, including mortar or mastic. The unique tile adhesive simplifies homeowner DIY kitchen backsplash and bathroom tile remodel projects and eliminates the 24-hour dry time and mess of mortar or thinset, allowing kitchen tile backsplash project to be completed in just one day
Terry said the first time he saw his product display in the tile & grout section of a local Lowe’s store, he got goose bumps. “This was literally my dream come true,” he said.
Musselbound has received positive press attention since its debut, and was recently featured in a weekend remodeling feature story in This Old House Magazine. Next up for Terry will be expanding the product to other countries, as well as developing other creative product solutions for home improvement projects.
He credits Coastal not only with helping to get his product off the ground, but with enabling him to take it to the next level.
“When I connected with Coastal Community Capital, things started to happen,” he said. “The experience was a game-changer for me.”
"When I connected with Coastal Community Capital, things started to happen. The experience was a game-changer for me." – Terry Jones
Cape Cod Rehab’s Vision Comes to Life
CAPE COD REHAB PHYSICAL THERAPY & FITNESS - “The vision we had has come to life over the past year,” Joe Carroll and co-owner of Cape Cod Rehab Physical Therapy & Fitness said back in 2013. Over the years, Joe and Kathy Carroll grew their business to meet the healthcare needs of the community. In addition to their Mashpee location, they opened and operated offices in Osterville and Hyannis. However, with their aging Mashpee location becoming increasingly inadequate, the Carroll’s sought financing in order to relocate…
Reaching out for assistance from Coastal Community Capital, the Carrolls were able to obtain the financing needed through the SBA 504 program. Per Joe Carroll, “The vision we had has come to life over the past year with the expansion of our Physical Therapy business and opening the Mashpee Fitness Center. We have been able to share our passion for health and fitness with many more people in the greater Mashpee area to help them achieve recovery from injury and lead a healthy lifestyle.” Cape Cod Rehab acts not only as a great source for physical therapy treatments, but also as a fitness center at large.
The Carrolls have grown the business from one employee to thirty with a projection to hire ten more in the next two years. With the extreme seasonality of Cape Cod, Cape Cod Rehab is a model business which helps generate jobs in the local area year-round. “In our first year we are ahead of projections and the future is bright!”
"In our first year we are ahead of projections and the future is bright!" – Joe & Kathy Carroll