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"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 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 environment and O’Shea’s proven track record in branding and design, they were confident they could see their vision through. Their challenge came in finding a lender that understood their unique needs.
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.
"Coastal made the process as easy as could be, and it was expedited too. "
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 his already successful business to include a whalewatching/sealwatching operation. He reached out to Coastal Community Capital to help make it happen.
“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.”
"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 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 South Coast businesses awarded a Small Business Professional Development mini-grant this spring through Coastal, in partnership with the Massachusetts Growth Capital Corp (MGCC).
“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 retail price 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.
"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’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 with as a child.
“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.
"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’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 architectural woodwork – started as a small basement shop and eventually grew to occupy a small facility in Pocasset. The business was hired out by local contractors to design beautiful and functional customized items for the home, everything from kitchens and pantries to bathroom vanities and closets.
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!”
"Not only did Coastal make this easier, they made it possible."
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, unique objects could – quite literally - fill a store. So after leaving the corporate world, he set out to do just that.
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.”
"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."
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, a professional car care & detailing service located at 757 Main Street in Walpole, MA. “It seemed like a great long-term investment,” says Stefan, who decided to take the listing off the market and purchase the car wash himself.
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 opened doors for me."
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 his own.
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 guidance and 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.
"This would not have happened without the efforts and understanding of Coastal Community Capital."
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 in 2007 with Rob - a fellow law enforcement officer - the two trained hundreds of women on Cape Cod, conducted weekly classes in Hyannis for students of all ages, and trained dozens of police officers, including the Cape Cod Regional Swat Team.
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 not have happened without the efforts and understanding of Coastal Community Capital. We all highly recommend Coastal Community Capital as a resource for small business.”
"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."
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 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."
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.
""Coastal was so easy to work with throughout the process. They were supportive, there were no complications and they really took care of everything.""
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 the right opportunity.
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.”
"When I connected with Coastal Community Capital, things started to happen. The experience was a game-changer for me."
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 back in 2010. Today, the adhesive tile mat product developed by MusselBound LLC – a company founded by Terry and his wife – can be found in Lowe’s Home Improvement 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.
Next up for Terry will be expanding the product to other countries, as well as possibly developing other creative product solutions for home improvement projects. He credits Coastal Community Capital not only with helping to get his product off the ground, but with helping 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.”
"It would have been a real shame for this family entertainment venue to turn into just another office building, which is what might have happened if it ended up in the hands of a developer."
"Just knowing we were expanding thrilled many of our regular customers."
"In our first year we are ahead of projections and the future is bright!"
"It's a dream come true. It's very exciting. I feel lucky to have this opportunity."
Walking into Cape Cod Barber Shop is similar to walking through a time warp. Nostalgic paraphernalia decorate the walls, three old-style barber chairs stand proudly before three vintage-looking barber stations, and of course, the traditional red, white, and blue spiral barber pole gracing the facade before even walking in. Located at 1170 Iyannough Road in Hyannis, the Cape Cod Barber Shop proudly opened its doors in January, welcoming a line of loyal customers. While the location is new, the business itself has been in operation since 1970, when most of the decor of the current shop was modern. Cape Cod Barber Shop was the very first business to open in the Cape Cod Mall and celebrated 42 years in business last summer.
In 2007, Matt Kundel joined the team with the intent that he would eventually succeed the two owners. That succession came with the decision to upgrade and own a shop with more square footage. Kundel found the perfect spot on busy Iyannough Road/Route 132 in a former real estate office, conveniently located by the brand new Stop & Shop. With the decision to purchase his own space, Kundel sought out Coastal Community Capital to help with financing.
"Matt Kundel is licensed as a Master Barber and has a strong background in customer service which convinces me that he will be a savvy business owner," said Jeannine Marshall, executive director of Coastal Community Capital. "We were able to partner with the Cooperative Bank of Cape Cod to offer him commercial financing."
After obtaining the loan, Kundel spent several months renovating both the interior and exterior of the location into a clean, efficient business and opened his doors on January 2. With both former owners continuing to work as employees, Cape Cod Barber Shop is able to accommodate more clients with the larger space and modern amenities.
"It’s a dream come true," Kundel said. "It’s very exciting. I feel lucky to have this opportunity."
"Little Milestones, as a family business comprised of experienced, educated and nurturing women, is exactly the kind of business Coastal wants to see succeed, grow and expand, providing a much needed service in the community. "
Handprints cut out in brightly colored construction paper are taped to the walls and the sound of children playing on the jungle gym in the backyard wafts through open windows. Welcome to Little Milestones Childcare Center, a group childcare facility that provides infant – preschool care in East Falmouth. Operated by the Hufnagel family, Little Milestones combines the experience and educational backgrounds Ginny, Ashley, and Alissa, offering break-through learning systems to promote social, physical and emotional development for all age groups.
Ginny Hufnagel owned her own home daycare for 10 years and has worked in the public school system for close to 20 years. She has passed her passion for quality childcare to her daughters as well. Ashley has a degree in Early Childhood Education and has worked within Daycare centers for the past five years. She also just received her Directors I License last month. Ginny’s other daughter, Alissa, received her undergraduate degree in Psychology with a concentration in Learning and Development and has worked as a private Nanny for the past four years. Prior to going into business with their mother, Alissa and Ashley owned and operated their own company, My Sitter Solution, Inc., matching private nannies with individual families. While on this business venture, as Ashley was closer to the completion of her degree, they revisited the idea of opening their own daycare. Between Ginny’s owning of a family daycare, Ashley’s work within a daycare facility, and Alissa’s work as a private Nanny, all three woman had always considered working together in their own facility. With the accumulation of their work experience and education, the women knew how to provide quality care and compiled their expertise to open a valuable facility.
After obtaining a rented building and starting Little Milestones, the business began to grow, especially because they offer a discount to families employed by Woods Hole Oceanographic Institute, Cape Cod Healthcare, the military, and government employees. Because of their growing popularity, the Hufnagel’s knew they would outgrow their former facility, located in an older, Victorian-style house located on Trotting Park Road in Falmouth. With a desire to own their own building, have better visibility, and to be able to have an updated property that was both aesthetically attractive and safe for the children, Ginny, Ashley, and Alissa approached Coastal Community Capital regarding a commercial loan.
Recently receiving a $50,000 grant from the Falmouth Economic Development and Industrial Corporation to relend to businesses within Falmouth, Coastal knew it was a perfect match. Using funds from the EDIC and their own direct lend equity, the Hufnagels were able to fulfill their goal of owning an updated facility on Teaticket Highway, with the capabilities to grow their business and service more families in the community.
“Little Milestones, as a family business comprised of experienced, educated and nurturing women, is exactly the kind of business Coastal wants to see succeed, grow and expand, providing a much needed service in the community,” said Jeannine Marshall, executive director of Coastal Community Capital. “We look forward to continuing to create jobs and opportunities for small businesses in Falmouth through organizations such as the EDIC.”
"We need to incentivize young people to come back and stay on the Cape. It should be the priority of every leader on the Cape to make sure those people [ages 15 to 34] stay."
Dale Tree Movers and Tree Farm, operating out of 51 Sandwich Road in East Falmouth, MA, specializes in tree moving, installation and tree preservation, installing shade trees, evergreens, ornamentals and unique trees for all types of landscapes. Owner Patrick Dale began his tree mover service as a sole proprietor in 2005 at the age of 21 after graduating with an associate’s degree in arboriculture from Stockbridge School of Agriculture, a B.S. in urban forestry from UMASS Amherst, and receiving his certification as a Massachusetts Certified Arborist and an International Society of Arboriculture Certified Arborist.
Since his business is capital intensive, requiring large vehicles to dig, transport and install mature trees, Dale approached a bank in 2009 for a business loan. Living and growing up in Falmouth, Dale was committed to staying in the community and providing a useful service to his fellow residents. When his bank said no to him, he was directed to Coastal Community Capital who was able to provide financing to purchase a front end loader. Although leverage was high due to the rapid growth of his business, his credit score was strong.
Over the years, Dale paid the loan as agreed. In 2011, Dale approached Coastal again to purchase a tree spade truck. He was presented with the opportunity to buy out the inventory and vehicles from an older gentleman who was retiring. Although he could come up with a reasonable equity injection, he needed to secure financing for the balance necessary. His cash flow was tight, due again to his leverage, but his credit score remained strong. Coastal made the loan and it has been paid as agreed.
During this time, Dale invested in buying his own home in East Falmouth. Formerly operating his business out of his place of residence, Dale decided to make yet another improvement to his business. Because of Dale’s strong working relationship with the company, he approached Coastal again in 2012 to discuss the possibility of purchasing a location to consolidate his business. Coastal provided guidance on how much he could afford to finance and how much he would need for a down-payment. He found the ideal parcel of land in Falmouth and purchased it recently with Coastal’s help. The loan was also partially funded by the Falmouth Economic Development Council, who lends to Coastal and Coastal, in turn, lends to deserving Falmouth businesses.
Coastal has been thrilled to finance young entrepreneurs such as Patrick Dale in a location such as East Falmouth, where the median household income is $53,400, a full 20 percent below the state average, and eight percent of the population is below the poverty line, also greater than the state average. Furthermore, Barnstable County has among the highest median age in the country due to the outmigration of young adults.
“We need to incentivize young people to come back and stay on the Cape,” said demographer Peter Francese. “It should be the priority of every leader on the Cape to make sure those people [ages 15 to 34] stay.”
The consequences of an aging population are a more restricted workforce, higher medical costs, and waning support for public schools. Dale’s success story stems from his dedication to his education and the hard work which he has put into his business. Because of his commitment and work ethic, his income exceeds the median household income for East Falmouth.
Coastal applauds the efforts of small business owners like Patrick Dale and works hard to provide financing to young entrepreneurs with 30 percent of loans made going to this demographic.
"The team at Coastal Community Capital has been wonderful, making what was a complex financial deal easy to manage for us."
Almost a year ago, Richard and Jo-Anne Hoad sold their highly desirable lakeside rental cottage in Quebec, Canada and made a leap of faith to move to the Cape and pursue their dream of owning a Bed and Breakfast. Fortunately, the market was ripe with options and they settled on The Parsonage Inn in East Orleans. Built in the late 1700s, the Inn, an authentic full-Cape house, has undergone a series of modern updates and renovations which made it an ideal property. Its close proximity to Nauset Beach, shops, galleries, dining, and opportunity for growth and expansion were added bonuses.
In order to fulfill their dream, the Hoads' approached Coastal Community Capital to receive a loan that fit their needs. Coastal's flexibility to work with Richard and Jo-Anne as they worked to purchase the Inn made all the difference for the couple. "The team at Coastal Community Capital have been wonderful, making what was a complex financial deal easy to manage for us," said Richard. "Jo and I are loving our new life in East Orleans, there is a real community spirit and have found the local businesses really welcoming."
The Hoads have worked and lived all over the world and are looking forward to enjoying Cape Cod and all it has to offer. With years in the hospitality and management industries, they both have experienced first-hand, the challenges, opportunities and rewards of owning and operating their own businesses. With their combined expertise and the help of Coastal, they are excited to embark upon the journey of having a B&B of their own.
"Coastal Community Capital has opened so many doors for us. They are a huge champion for small businesses."
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 the location.
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.
"Coastal Community Capital has opened so many doors for us," says Tom. "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, including their annual Hog Off Fundraiser, which benefits a LIFE Scholarship for Falmouth High School seniors, 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.
"Coastal Community Capital worked diligently with me to help me secure a loan to buy the seafood restaurant and finance a high-tech septic system to protect Cape Cod's fragile environment. It also gave me a way to earn a living and have a future here. "
MacGregor Hay, then a twenty-year-old college student, along with his fifteen-year-old brother Alex, opened Mac's Seafood Market in Wellfleet. Initially, the market only offered unprepared local seafood. Shortly [after opening] they began preparing food, slowly adding items to the menu. Next they offered lobster dinners, grilled fish dinners, and sushi to be eaten at home or at the beach-side tables outside the market. [Soon] Mac's Seafood market began cooking more dinners than its make shift kitchen could handle.
Enter Coastal Community Capital. Concerned by the number of young adults like Mac who have had to move from the region to find work, Coastal guided him through the approval of a business start up loan. Mac was well-prepared to become a business owner. As a college student, he leased and operated the business on Wellfleet Town Pier (formerly Harbor Freeze and the Harbor Grill) and then continued to run the two businesses for several years after graduating. Motivated by a strong desire to stay on the Cape to live, work, and raise a family, Mac decided to purchase the business, but, as a recent college graduate, did not have the down payment capital needed to obtain financing.
Soon after and fresh from post-college travels, Mac's brother, Alex, joined him. Together, the brothers successfully merged the enterprises, upgrading equipment and improving the efficiency of operations. Coupled with a shrewd mind for a business and fantastic business location, the Hay brothers have met with nothing but success, and in 2004 they were selected by the U.S. Small Business Administration as "Young Entrepreneurs of the Year."
What began as a seafood shanty on pier has continued to grow over the years to include Mac's Shack farther up on Commercial Street, a fine coastal cuisine sushi and raw bar, three seafood markets, and a thriving catering company which increasing revenue for the local economy and much-needed jobs.
At the heart of Coastal's mission is to provide loan capital to those who create businesses and jobs and the Hay brothers are a perfect example of our effort to support our small business owners.