Cambridge Savings Bank Approves a $250,000 Loan to Woman-Owned Enhanced Mechanical Contracting
Completed during National Women’s Small Business Month, financing enables the local HVAC company to turbo charge growth by leveraging market gaps
CAMBRIDGE, Mass.–(BUSINESS WIRE)–#SMBs—Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that its small business lending team provided a $250,000 loan to Enhanced Mechanical Contracting, LLC. Based in Boston, Enhanced Mechanical Contracting provides customized HVAC services to facilities across Massachusetts and is the first 100 percent female-owned union mechanical contracting company in the state.
The company offers HVAC service solutions customized to each building’s demands to have equipment operate at peak performance and to reduce the facility’s cost structure. With a diverse client set, Enhanced Mechanical Contracting is well-positioned to maximize the opportunities created by market gaps as facility managers continue struggling to secure services from reliable, knowledgeable vendors. As it seeks to grow and reach new customers across the state of Massachusetts, the firm will use the capital to execute expansion plans and purchase equipment including branded vans.
“As a female entrepreneur and tradesperson in a male dominated industry, I often encounter initial skepticism from my clients, but I hardly expected the resistance I got in my effort to secure funding for my startup,” said Kelsey Farraher, Founder, Enhanced Mechanical Contracting. “In contrast to my experience with some other banking institutions, the CSB team treated me with respect, and my advisor, Brooke, was with me every step of the way. The bank understood my business plan and showed me practical, workable options. As Enhanced Mechanical Contracting continues to grow, I look forward to a long partnership with CSB.”
CSB’s small business division is committed to supporting local businesses as they launch, expand, and reach their full potential. Small business is especially important as it is a crucial engine of job creation, accounting for two out of three jobs added in the past 25 years. As the economy continues its post-covid rebound, CSB is committed to supporting the small-business community and help them benefit from favorable conditions in Massachusetts.
“The CSB small business team is thrilled to be working with Kelsey and Enhanced Mechanical Contracting, especially during National Women’s Small Business Month,” said Brooke Jaillet, AVP, Small Business Relationship Manager at CSB. “We noticed immediately that Kelsey was a good fit for our Small Business Administration (SBA) program, as she had a number of key ingredients for success, including her diligent, personable approach to clients, which mirrors our own. As a preferred SBA lender, CSB is helping talented entrepreneurs like Kelsey, and these relationships is what gets me, and the rest of the small business team up in the morning.”
CSB is one of the top 10 SBA lenders in Massachusetts. Our small business services include business checking and savings, overdraft protection, online and mobile banking, and treasury management. To learn more about CSB’s small business services and the SBA lending program, contact Brooke Jaillet AVP, Small Business Relationship Manager at [email protected].
About Cambridge Savings Bank
Cambridge Savings Bank is a full-service banking institution with over $6 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. In March 2023, Kroll Bond Rating Agency Affirmed CSB’s investment-grade rating, reinforcing the bank’s position as a reliable business lender. To learn more about how CSB 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. Equal Housing Lender.
About Enhanced Mechanical Contracting
Enhanced Mechanical Contracting offers HVAC services customized for the needs of each facility. Our commitment to ensuring that equipment is performing at peak levels means customers enjoy a reduced cost structure. The company services hospitals, and other large complexes, with specialized requirements, including post-COVID upgrades. Services include Equipment Installations, Preventive Maintenance, Scheduled Inspections, Emergency 24 HR Call Coverage, Refrigerant Containment Services, and Repairs. The team’s deep expertise includes complete coverage of industrial and commercial equipment such as Chillers, Cooling Towers, Boilers, Variable Refrigerant Flow Systems, Air Handlers, Hydronic Systems, Piping Installations, Roof Top Units, Heat Pumps, Mini-Splits, Humidification Systems, and Ventilation Systems. The company’s name, Enhanced Mechanical Contracting, derives from our commitment to continual enhancement. We maintain the highest HVAC standards, and consistently demonstrate our core values of integrity, commitment, and safety. For more information, follow Enhanced Mechanical Contracting on LinkedIn or visit https://enhanced-mech.com/.
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