TSL Express Daily News

Expands Prior Relationship, Represents First Asset-Based Lending (ABL) Initiative from Salem Five’s New Business Credit Team

SALEM, MA (July 21, 2025) – Salem Five Bank, a full-service financial services organization with over $8B in assets, today announced that it has provided a credit facility to BWD Technologies (Blanking Without Dies), representing the first asset-based lending (ABL) initiative from its new Business Credit team. The $15 million financial package, designed to further fuel the laser blanking leader’s expansion in the automotive industry, enables BWD to acquire essential equipment immediately while providing funding for future needs.

The agreement features a $10 million term loan for BWD to finance a second laser equipment line from Germany to significantly scale production and better meet the needs of large auto manufacturers. Additionally, a $5 million revolving line of credit, designed to expand alongside revenue growth, will empower BWD to pursue additional growth opportunities.

Expanding on an existing relationship between Salem Five and one of BWD’s owners that focused on asset acquisitions, this new deal represents a milestone for the recently formed asset-based lending group led by SVP Keith Broyles.

“When seeking a trusted banking partner, we immediately thought of Salem Five,” said Timothy Marasco, President of BWD Technologies. “One of our owners has had several successful experiences with Salem Five for prior asset purchases and had direct experience with Keith Broyles who we knew has strong knowledge of manufacturing. We needed a partner that could move fast, meet deadlines and be responsive. Salem Five did just that -- keeping up with the pace of our business. From first meeting to close in a little over a month. This financing is key to BWD keeping ahead of the competition and adding an additional laser line to greatly increase production.”

“This new partnership with BWD is a great example of how Salem Five Business Credit takes the time to listen to what the client wants to achieve and then leverages our deep experience in formulating a financing package that best helps the client achieve its near and long-term goals.” said Keith Broyles, SVP, Business Credit, Salem Five Bank.  “We are thrilled to partner with BWD and cannot wait to see where the team takes the company from here.”

Founded in 2021 and based in Dearborn, Mich., BWD Technologies has relationships with some of the most well-known OEMs globally. The company’s innovative, high powered laser blanking technology has redefined the metal blanking process in the automotive industry, achieving optimized costs and reducing time to market in early-stage automotive supply chain. Its revolutionary DynamicFlow Technology replaces the need for costly dies and labor-intensive operation and repairs among other benefits.

Salem Five’s Commercial Banking division continues to expand to serve businesses of all sizes and industries, offering products, services and expertise across a variety of industries leveraging solution-based financial tools. From Deposit Products to Loans, Lines of Credit, Asset-based Lending, CRE Financing and Treasury Management services, Salem Five has what most businesses need to grow and succeed.

About Salem Five Bank

Salem Five Bancorp is the holding company of Salem Five (www.salemfive.com), a mutual bank founded in 1855. Whatever the need and whatever the goal, Salem Five’s banking, investment and insurance professionals have the expertise to move customers forward. Salem Five has $8 billion in assets and 33 retail branches in Essex, Middlesex, Norfolk and Suffolk counties. Divisions include Salem Five Mortgage Company, one of the largest mortgage lenders headquartered in New England; Salem Five Wealth Management & Trust offering fiduciary wealth management services to institutions and high-net-worth individuals; and Salem Five Insurance Services, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency.

About BWD Technologies

BWD Technologies LLC (BWD) is leading the future of metal blanking, delivering exceptional quality and innovative, precision-driven die-free solutions that empower its partners and customers to achieve greater efficiency, design flexibility, and sustainability. As a trusted partner to OEMs, metal producers, and fabricators, BWD is transforming the supply chain with advanced laser technology, coil-fed metals, forward-thinking engineering, and value-added services. By setting a new standard for the industry, BWD streamlines production, reduces waste, and improves product quality, driving the future of manufacturing with unmatched precision and performance.
www.bwdtechnology.com