BOSTON – Webster Bank has provided Gendron Construction with a $350,000 line of credit through the Small Business Administration’s Express Program.
Gendron Construction is a design/build construction company specializing in health care facilities, office spaces and high-end homes.
Gendron has grown from a $1 million to a $5 million company in the past year. The Raynham-based company has added 14 jobs since 2010, growing from four- to-18 positions.
“As we grow, so does the demand on our accounts payable,” said CEO Bob Gendron. “Our success means that we now need to pay a larger number of vendors and employees. This credit facility is helping us maintain a robust cash flow.”
“I’m very pleased that we were able to provide Bob and his company with the credit they need during this period of exponential growth,” said Anthony Gaymes, vice president of business banking for Webster. “They’re a great family-run business with a remarkable success story, a perfect example of how the SBA and a local bank like Webster can help small businesses grow.”