Working Together

When Property Manager Tom Monaghan was looking for a financing partner to help with a multimillion-dollar envelope replacement project at Fletcher Village, a 98-unit condominium community, resort, and golf club in Brewster, he turned to commercial lender Christopher Walker for guidance and expertise. According to Tom, Chris put their project on solid footing.

“Chris’s approach and efforts on this significant repair and replacement project were very well received here and really paved the way for the association’s board of managers to move forward,” Tom said. “In fact, every aspect of the lending process went smoothly.”

In fact, Tom says he was pleased by the added value that Chris and the team at TruNorth Bank were able to provide in patiently guiding his relatively new board through what can often be a very stressful experience. “Chris and the team were quick to respond, provided valuable feedback on the process, and were attentive to every detail,” Tom notes. “They crafted a creative proposal at a competitive rate, making the decision to engage TruNorth Bank as our lender a very easy one.”

Tom says that many of the 17 associations comprising The Villages are looking to upgrade and renovate their facilities in the near future, making additional projects of a similar scale more than likely. Given the solid foundation Chris has built in unlocking this condominium community’s full potential, Tom says he expects the relationship with Chris and his team at TruNorth Bank to grow.

If you’re in the market for specialized financing for your condominium association, call Christopher Walker at 781.792.9034 or email him at cwalker@TruNorthBank.com.

The mission of Niche Hospitality Group has always been to deliver memorable dining experiences that bring people together. Since 2006, Bocado Tapas Wine Bar in Worcester has been a cornerstone of that mission. With its authentic Spanish-inspired tapas, extensive wine selection, and vibrant atmosphere, it has become a beloved gathering place for the community.

When owner Michael Covino got the opportunity to purchase the building adjacent to Bocado, he had a vision to connect the two properties and breathe new life into a corner that serves as a gateway into Worcester’s Canal District. The expansion would create additional seating including a private dining room, a new bar, a new kitchen and outdoor patio dining—and would require the right financial partner to make it a reality.

That’s when TruNorth Bank and Senior Vice President and Commercial Lending Team Leader Jane Loranger stepped in.

“Purchasing a 2,500-square-foot former garage and turning it into a restaurant space, including a new kitchen, comes with certain challenges. There were many details to consider and working with a partner who not only understands our financial needs but who also understands our mission and ultimate vision of the project is critical,” said Covino. “Working with Jane and the team at TruNorth Bank was completely seamless and refreshing to have that level of support in your corner.”

He added, “I’ve had a long-standing relationship with Jane, and it has been one of trust and collaboration. She has always understood our vision for hospitality and growth and has evolved both for and with us. Having that type of relationship with your bank is invaluable.”

Loranger said of the project, “Having worked with Michael and the Niche brand for more than 15 years, I have seen him transform a vision into a reality on many occasions. As one of the driving forces behind the renaissance of the Worcester restaurant scene, he has executed several successful concepts in the Worcester marketplace, with Bocado being no exception.”

She continued, “When he presented his plans for the Bocado expansion, I jumped at the chance to finance the project. With full support and excitement from our executive leadership at TruNorth Bank, we were able to partner with Michael on this project and look forward to supporting him as he continues to curate and expand the Niche brand.”

With TruNorth Bank’s support, Covino has been able to bring the expansion plans to life. The newly expanded Bocado Tapas Wine Bar, which opened in early 2024, now offers 240 dining seats and a brand new 800-square-foot production kitchen. In addition, they have been able to create new jobs, strengthening their connection to the Worcester community.

According to Covino, “This project has been a transformative step for Bocado and Niche Hospitality Group as a whole, and it wouldn’t have been possible without Jane and TruNorth Bank. Their belief in our vision—and commitment to supporting local businesses—has been instrumental.”

To help fund his college education and plans to become a lawyer, then-high schooler Christopher Baum started out as a delivery driver for his local Domino’s. But you might say that experience ignited a passion and a whole new career path to become a Domino’s franchisee himself.

So, he and fellow driver Fernando Cruz were thrilled to land the opportunity to partner with a senior franchisee for the past eight years and learn the business from the ground up. Earlier this year, the duo was ready to strike out on their own and fulfill their plans to purchase 14 stores from their retiring senior partner—in other words, to take on the whole pie of franchise ownership.

The only obstacle? Finding a local bank with franchise experience that didn’t treat them like just a number. They kicked the tires of as many as seven banks, recalls Christopher, but says it was TruNorth Bank and Vice President, Commercial Lending Melissa Soto who offered up all the ingredients they needed.

“Other banks made us feel like they were too corporate, too big—even if they weren’t,” recalls Christopher. “But with TruNorth Bank, Melissa, right from the start, it felt like just the opposite. They had the experience but made it feel local and personal. That’s so important to us because that’s how we run our business.”

Christopher ultimately purchased five locations solely and another nine in partnership with Fernando, backed by two loans totaling more than $15 million from TruNorth Bank. According to Christopher, the transaction went even more smoothly than he could’ve expected.

“Honestly, I was expecting the process to be painful, and after previous experiences with other banks, I wasn’t expecting [TruNorth Bank] to be as helpful as they were,” admits Christopher. “But they took the time to understand our goals and our timeline. They wanted to grow with us. They made it feel like a partnership.”

“TruNorth Bank took the time to understand our goals and our timeline. They wanted to grow with us. They made it feel like a partnership.”

– Christopher Baum, Domino’s Franchisee

The Fuller family has been helping vehicle owners with automotive repair and service for more than a century. In fact, the company began in 1914, when great-grandfather Willis Fuller started doing horse and buggy repairs, quickly transitioning to automobiles to keep up with the new technology. His son, Freeman, and grandson, Richard, followed suit, expanding the Auburn-based business several times over the years and branching out into additional automotive services.

The Fuller family’s banking relationship with TruNorth Bank spans several generations, too. Fourth generation owner Josh Fuller says it’s comforting to have that enduring, trusted relationship to turn to.

“Our longstanding relationship with TruNorth Bank makes us feel like someone’s always in our corner, fighting for us to get things done,” says Josh. “Over the years, it’s been remarkable to watch our company grow alongside TruNorth Bank. We’ve been honored to be part of their growth.”

Josh says when they were looking to finance construction of their new collision center on Rte. 20 in Auburn, it’s no accident he called upon TruNorth Bank Executive Vice President, Senior Commercial Banking Officer Michael Mahlert and that decades-old relationship to help pave the way.

“They do whatever they need to do to get things done,” he says. “They’re always proactive, reliable, flexible, and attentive. They’re always ready to roll.”

Plus, he says the transformative power of TruNorth Bank’s smart banking technology has kept their business competitively ahead of the curve.

In fact, he sees synergies in knowing the bank has his best interest at heart, much like his customers know he has theirs. “If it drives and breaks and sometimes crashes, our customers know we’re here for them. Fortunately for us, we feel the same way about TruNorth Bank.”

Are your business plans stalled? We’ve got the know-how of the big banks but get to know you as a community bank. Contact Michael today at MMahlert@trunorthbank.com or 508.499.1887.

Putnam, Connecticut-based Strategic Commercial Realty, Inc. DBA Rawson Materials was looking to build on their already successful company by acquiring Sterling Concrete Corp. of North Oxford, Massachusetts, a commercial and residential ready-mix concrete company with two Massachusetts facilities. Sterling Owner George DeFalco was interested in selling his company to someone that would care about his employees and the acquisition would be pivotal to Rawson to expand its family of brands into the ready-mix concrete industry. Rawson’s portfolio already included aggregates, hot-mix asphalt, trucking, and manufacturing.

Company President Jeffrey A. Rawson knew they needed an exceptional banking partner—one with sufficient lending capacity and the wherewithal to finance a sizeable acquisition, but who was still nimble and responsive enough to get things done.

The challenge? Closing a deal of this magnitude—well north of $10 million—in about 90 days. Based on previous professional and charitable connections, Jeff and Rawson Controller Sergio Rodriguez reached out to TruNorth Bank Senior Vice President Shawn McNerney, who immediately brought on the full power of the TruNorth Bank Commercial Lending team, as well as President and CEO Robert J. Morton.

“The Rawson and DeFalco families had done business together for over 40 years, so synergies between our companies led us to believe it would be a perfect fit,” Jeff said. “With financing being such an important component of the deal, we knew that we needed the same kind of solid fit and collaboration in a lending partner. Already having a positive rapport with Shawn, we had a high degree of confidence.”

And, Jeff added, “We were very impressed with Rob’s involvement throughout the process, knowing that this was a sizeable loan and a new relationship.”

Within 30 days, TruNorth Bank had everything it needed for formal approval and had lined up appraisals and valuations—just a little over four weeks from first contact. With multiple partners expediting the process, the deal closed on April 8, effective April 9.

“I was impressed with TruNorth Bank and their strong organization of people stepping up to the plate—being responsive, always available, able to adapt, and tackling any issues or hurdles head-on in order to work through them to resolution,” Jeff said.

“I’m confident that no other bank could’ve gotten a deal of this size and complexity done in the short amount of time we did,” said Rob. “Smaller banks can react but wouldn’t have the capacity to finance it. Bigger banks can finance it but get caught up in so much red tape, they can’t be as responsive and facilitate what needs to get done.”

Rob added, “That’s why I like to say that TruNorth Bank really does offer the best of both worlds.”

“It’s all well and good for me to talk about our positive experience, but the proof in the pudding will be whether we come back and do business with TruNorth Bank again in the future,” Jeff said. “For us, that answer is a resounding ‘Yes.’”