Cambridge Savings Bank Extends Financing Package to Support the Next Evolution of Growth for Fulfillment America
Working capital to support increased production as the world-class fulfillment company manages an uptick in services following the pandemic
CAMBRIDGE, Mass.–(BUSINESS WIRE)–#SMBs—Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Corporate Banking team provided new client, Fulfillment America, Inc, with a $6.5 million financing package to support its next phase of growth. Headquartered in Billerica, Mass., Fulfillment America is a national six sigma fulfillment organization that provides B2C and B2B fulfillment services, including warehousing, printing, kit assembly, logistics, and more.
The second-generation, family-owned fulfillment services company recently transitioned ownership from its founder, John Barry, Sr., to his children, John Barry, Jr., and Susan Barry Rasmussen. Over the last six years, the company has experienced considerable growth including in their printing services division which has doubled in volume every year since 2018. Currently the logistics printing partner for a host of national companies including Minted, Shutterfly, Dunkin, Subway, and Zola, Fulfillment America will leverage the capital from CSB to support increased customer demand.
“Despite the supply chain challenges presented by the pandemic, Fulfillment America has enjoyed a period of rapid growth over the last few years, necessitating the need for a financial solution to continue our momentum,” said Barry Jr., Executive Vice President at Fulfillment America. “Brian Annese has been a trusted partner for many years, and his support, guidance, and expertise have allowed us to be the best possible partner for all of our valued customers.”
Fulfillment America was introduced to Brian Annese by its certified public accountant (CPA), who has worked as the company’s CPA since its founding in 1992. While areas of Fulfillment America’s business were impacted by the pandemic, demand for printing services and e-commerce fulfillment have increased over the last few years.
“It is always rewarding to have the opportunity to identify a creative solution that will support the evolving needs of a longstanding partner,” said Brian Annese, First Vice President, Corporate Banking at CSB. “Like CSB, Fulfillment America takes a customer first approach to its business, and we are thrilled to have been able to provide the necessary loan structure and capital to help the company meet the needs of its customers.”
CSB’s commercial division is focused on serving the needs of their local communities and businesses, offering a full suite of Corporate Lending, Commercial Real Estate Lending, Treasury Management, and Trade Services solutions. Cambridge Savings Bank is the bank you can trust to provide customized services to meet your business needs. To learn more about CSB’s custom solutions for commercial entities, please contact Brian Annese, Corporate Banking First Vice President at [email protected].
About Cambridge Savings Bank
Cambridge Savings Bank is a full-service banking institution with over $5 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 2022, CSB received an investment-grade rating from Kroll Bond Rating Agency 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 Fulfillment America
Fulfillment America is a world-class fulfillment services company with its corporate office and production facilities located in Billerica (Boston) Massachusetts. Founded in 1992, Fulfillment America provides a broad range of fulfillment services to over 100 National and International companies. Fulfillment America offers internet real-time order processing and inventory management, e-mailed order confirmation, on-line tracking and simple-to-use ad hoc and custom reporting. These services include e-commerce, B2C and B2B fulfillment, literature, POP and other collateral materials, print-on-demand, inbound 800 services, kit assembly, pick and pack, warehousing, and logistics. For more information, please visit: fulfillmentamerica.com.