WESTERLY – The Washington Trust Co.’s commercial-lending group recently provided a combined $908,000 in financing to marine and industrial support firm Lightship Group LLC and its real estate holding company ASK Properties to refinance Lightship Group’s office building on Ten Rod Road in North Kingstown and to provide working capital and also purchase equipment for its production facility at Quonset Point.
The Lightship Group LLC and ASK Properties is owned by Thomas Alexander and Peter Starr.
“We wish Mr. Alexander and Mr. Starr continued success in their marine and building technology business,” said John C. Warren, chairman and CEO of the Washington Trust Bancorp Inc., parent of Washington Trust Co.
Last week, the Lightship Group – which provides engineering and technical support to marine and industrial clients worldwide – received one of 77 grants totaling $2 million issued by the Governor’s Workforce Board for on-the-job training. Lightship was awarded $12,189 to train 20 people.
Washington Trust’s commercial lending group offers various credit and cash management products.
Washington Trust Bancorp Inc. (Nasdaq: WASH) is the parent of The Washington Trust Co., a Rhode Island-chartered bank founded in 1800 that has offices in Rhode Island, Massachusetts and southeastern Connecticut. Additional information is available at www.WashTrust.com.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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