Cambridge Savings Bank Fuels Growth for Noreast Outdoorz with Revolving Line of Credit

October 25, 2021

Source: Cambridge Savings Bank

CAMBRIDGE, MA — October 26, 2021 — Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach, announced that its Asset-Based Lending team provided a revolving line of credit to Noreast Outdoorz, LLC, an outdoor sporting and recreational equipment supplier based in Pocasset, Massachusetts. With a strong presence in the Northeast, Noreast Outdoorz is solely focused on designing high-quality products for outdoor activities.

On track to more than quadruple their revenue from the previous year, Noreast Outdoorz was seeking external funding to support their rapid growth and help broaden their customer base nationwide. After an extensive search for a banking partner, Noreast Outdoorz partnered with CSB due to their relationship-centric approach and deep understanding of the business and its industry.

“After several months of searching for a banking partner, I’m excited to have found Cambridge Savings Bank,” said Dan Roy, President at Noreast Outdoorz, LLC. “As we focus on the expansion of our business, having the support of a strong, relationship-oriented banking partner is exactly what we need. From the speed in delivering a custom-built solution for us to the time they took to understand our business, I’ve been nothing but impressed with CSB’s asset-based lending team.”

CSB configured a personalized offering for Noreast Outdoorz that would allow them to refinance existing debt and secure the necessary working capital to achieve the company’s business development objectives. With lofty revenue goals in the next five years, CSB’s lending solutions presented Noreast Outdoorz with the flexibility to execute on their growth strategy and begin to establish a presence in new markets across the country.

“For each asset-based lending client that we take on, it is our job to understand the needs of our customers on a personal level,” said John Bobbin, FVP, Senior Asset-Based Lending Officer at CSB. “We took the necessary time to ensure that we understood their business needs and are honored to provide them with the capital they need to be well-positioned for future growth opportunities. We look forward to helping them achieve their success for years to come.” 

CSB’s commercial division is focused on serving the needs of their local communities and businesses, offering a full suite of Corporate Banking and Lending, Commercial Real Estate Lending, Treasury Management and Trade Services solutions. Cambridge Savings Bank is the bank you can trust to provide customized services to meet your business needs. To learn more about CSB’s custom solutions for commercial entities, please contact Keith Broyles, SVP, Head of Asset-Based Lending at kbroyles@cambridgesavings.com.

About Cambridge Savings Bank

Cambridge Savings Bank is a full-service banking institution with over $5 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 across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC.   

About Noreast Outdoorz, LLC

Noreast Outdoorz, LLC is an importer and seller of outdoor recreational equipment and sporting goods. The company has a broad reach through their online site and retail partners and is solely focused on designing and developing outdoor products that will optimize and elevate your family's quality time together.

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