Southbridge Associates, LLC
Southbridge Associates owns the Southbridge Business Center and needed funds to refurbish a building for a growing tenant, SCHOTT North America. But loan-to-value ratios made securing funds challenging. MassDevelopment recognized the project’s importance to the Town of Southbridge. Using our business and funding expertise, we worked with TD Bank — Southbridge Associates’ existing bank — to provide a $1.5 million loan. The refurbished building will allow SCHOTT North America to expand its presence in Massachusetts. More than 70 jobs will be created, helping advance Southbridge's reputation as a manufacturing hub.