Westminster landscaping employee to buy portion of business with $150K NCMDC loan
Photo I Courtesy of the North Central Massachusetts Chamber of Commerce
Pictured (from left) Steve Sugar, vice president of lending at the North Central Massachusetts Development Corp.; Mark Lafrennie, owner of M. Lafrennie Landscaping of Gardner; and Nicolas Berthet-Garcia, community business advisor at the North Central Massachusetts Chamber of Commerce/North Central Massachusetts Development Corp.
A long-term employee of J. Martin Landscaping in Westminster has secured $150,000 in financing from the North Central Massachusetts Development Corp. to purchase the lawn care business portion of the landscaping enterprise.
Mark Lafrennie, J. Martin Landscaping manager and employee of 20 years, will rebrand his purchased portion as M. Lafrennie Landscaping in Gardner, offering services including seeding, show plowing, sanding, and salting, according to a Tuesday press release from the North Central Massachusetts Chamber of Commerce.
“I am very grateful to the North Central Massachusetts Development Corp. for helping me achieve this milestone of business ownership,” Lafrennie said in the release. “For the last 20 years, Jay Martin has been a great friend and mentor, and I am proud to carry on his legacy of great service to our loyal customers.”
The NCMDC is the economic development branch of the North Central Massachusetts Chamber of Commerce, a business advocacy organization serving Worcester, Middlesex and Franklin counties. The nonprofit acts as a microloan lender, offering small businesses loans up to $250,000 while partnering with local banks to offer gap financing, allowing businesses to finish the last leg of their projects. Since 1996, the NCMDC has provided more than $26 million in loans.
“We are thrilled that the North Central Massachusetts Development Corporation could support Mark with the funds needed to keep this well-established business moving forward,” Roy Nascimento, president and CEO of the North Central Massachusetts Chamber of Commerce, said in the release. “With a strong client base and excellent reputation, it is wonderful to see respected local businesses change hands successfully, keeping the spirit of small business ownership alive and thriving in North Central Massachusetts.”
WBJ Web Partners
Most Recent
Most Recent
0 Comments