Cambridge Savings Bank’s ABL Team Closes Deal with Worcester Envelope Company

Cambridge Savings Bank (CSB) announced the closing of a senior secured credit facility with Worcester Envelope Company, a print and mail solutions company headquartered in Auburn, Massachusetts.

The credit facility provided by CSB’s Asset-Based Lending Team allowed Worcester Envelope to refinance their existing bank debt and will support future working capital needs of the company.

“The Asset-Based Lending Team at Cambridge Savings Bank was able to deliver—everything went off smoothly and without a hitch,” said Derek Waterhouse, President of Worcester Envelope Company. “Keith and his team were very straightforward and easy to work with. We are extremely delighted that every detail they talked about and committed to— the bank delivered.”

“Worcester Envelope Company is a long standing, family owned business that we are thrilled to work with.  The management team and its employees are hardworking and continue to develop and adjust its business model to remain an industry leader,” said Keith Broyles, Senior Vice President and Head of Asset-Based Lending at Cambridge Savings Bank.  “We are pleased to provide a flexible financing package that will support the company’s future efforts well into the future.”

Cambridge Savings Bank’s commercial division offers a full suite of Corporate Banking and Lending, Commercial Real Estate Lending, Cash Management and Trade Services solutions that can be customized to meet your business needs.

About Cambridge Savings Bank

Cambridge Savings Bank is a full-service banking institution with over $4 billion in assets.  As a mutual bank, CSB is committed to improving the quality of life of our employees, customers and the communities we serve.  One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has branches located in Arlington, Bedford, Belmont, Burlington, Cambridge, Charlestown, Concord, Lexington, Newton, and Watertown. www.cambridgesavings.com

About Worcester Envelope Company

Founded in 1893, Worcester Envelope Company specialized in the manufacture and distribution of envelopes. Today, we are a leading supplier to large volume direct mail customers to raise funds for non-profit and financial companies seeking to grow business. Worcester Envelope Company owns and operates state of the art equipment. However, our strength is our creative and dedicated team. Our coworker's craft and create new ideas that push our amazing technology to new levels. We have learned to blend cutting edge mailing products with value, creating an affordable demand for your business.